Market moves cautiously ahead of Budget

Market moves cautiously ahead of Budget

New Delhi: Ahead of the presentation of the Union Budget 2017-18, market indices remained cautious in Wednesday morning trade.

While the Sensex witnessed a 119.69 point dip to 35,913.98, NSE’s Nifty remained within the 11,000 mark at 11,014.35.

Shares of Kotak Mahindra Bank, BHEL, and Hindalco gained on both indices, while Dr Reddy’s Labs, Coal India, and Lupin incurred losses.

The Indian rupee opened lower at 63.67 per dollar, versus its previous close of 63.60.

Meanwhile, US stocks fell for the second consecutive day, with the Dow registering a 1.37-percent dip, the lowest since September 2016.

On a related note, the Budget will be presented on Thursday by Finance Minister Arun Jaitley.

This is the last full-fledged budget of the Narendra Modi-led government, and the first post the rollout of the Goods and Services Tax (GST). (ANI)