 "Markets remain positive; FM cuts excise across sectors")
Markets remained positive as the FM concluded his interim budget with cuts in excise duties in capital goods, auto, and consumer durables sectors. Fiscal deficit was contained at 4.6% of GDP, compared to an earlier target of 4.8%.
At 12:15, the 30 share Sensex was up by 79 points to 20,455, while the Nifty-50 gained 20 points to 6,068.
Shares of automobiles companies have moved higher after the finance minister P Chidambaram proposed to reduce excise duty for small cars, two-wheelers from to 8% from 12% June 30, 2014. The excise duty on SUV cut to 24% from 30% earlier, while for large and mid-segment cars cut to 20%.
The BSE auto index is up nearly 1% as compared, while The BSE Capital Goods index inched 0.3% higher to 9459.63.
At 12:15, the 30 share Sensex was up by 79 points to 20,455, while the Nifty-50 gained 20 points to 6,068.
Shares of automobiles companies have moved higher after the finance minister P Chidambaram proposed to reduce excise duty for small cars, two-wheelers from to 8% from 12% June 30, 2014. The excise duty on SUV cut to 24% from 30% earlier, while for large and mid-segment cars cut to 20%.
The BSE auto index is up nearly 1% as compared, while The BSE Capital Goods index inched 0.3% higher to 9459.63.