Sensex down 32pts; STT hike serves the blow

The Sensex took a sharp dip once the Finance Minister's Budget Speech was over. It seems like the market did not like 25% hike in STT. The index plunged to a low of 10,225 - down 131 points from high, and is now down 32 points at 10,250.

ACC is up 2% at Rs 608. ICICI Bank and Maruti have advanced 1.5% each to Rs 604 and Rs 801, respectively.

BHEL has added 1% to Rs 1,933. Larsen & Toubro, HLL and Grasim are the other notable gainers among the Sensex stocks.

Hindalco has dropped 2.5% to Rs 151.

Ranbaxy and Tata Steel have slipped 2% each to Rs 433 and Rs 413, respectively.

Gujarat Ambuja, ONGC, HDFC, ITC, Hero Honda, SBI, Satyam, Dr.Reddy's and NTPC are down 1-2% each.

The market breadth has turned to fairly negative. Out of 2,405 stocks traded so far, 1,452 have declined, 884 have advanced and the rest are unchanged.