In the February derivatives expiry, the Sensex tumbled by 2,230.94 points or 6.18 percent, and Nifty declined by 686.95 points or 6.20 percent.
Sensex slipping over 71 points to mark its third straight-session loss as private banks put a dampener on the momentum created by IT counters.
Dollar inched higher versus a basket of major currencies, but its outlook was clouded by concerns that the ballooning US fiscal deficit could disrupt the economy.
The govt expects to swing to a primary budget surplus of 800 bn yen ($7.23 bn) or 0.1% of gross domestic product in fiscal 2027, latest forecasts showed.
"I believe we will close this year upwards of 6.7 per cent. Next year should to my mind cross 7.5 per cent," Goyal said.
Domestic equities managed their 2nd gain in last ten sessions and recovered from two back- to-back weekly declines, with Sensex surging nearly 295 pts and Nifty 85 pts.
The economy will accelerate to 7.5 percent in FY19 and there is a slim chance of the much- feared rate hike by the central bank in the near-term as inflation risks abate.
RBI's decision to maintain status quo on policy interest rate is a welcome move and indicates that growth will pick up from here onwards, finance ministry official said.
Finance Minister Arun Jaitley slamed his predecessor P Chidambaram and said the economy was in the hands of a "terrible doctor" under 10-year rule of UPA.
Banks to raise interest rates even though RBI is leaving its rates unchanged, as risks such as surging bond yields and more provisioning requirements erode their profit.
Ultratech Cement leads race to take over Binani Cement
Offers around Rs 6,200 cr, 20% stake in co to unsecured financial creditors
Dalmia Bharat offers Rs 6,300 Cr
Dalmia seen to lose as UltraTech offering equity stake to creditors
Final decision on winner to be ratified by NCLT
Business Standard Reporst
4 companies put in bids for 9 operational national highways under ‘toll-operate-transfer’ model
Brookfield Asset mgmt, Macquarie, IRB Infra and Roadis- NIIF are cos in fray
NHAI hopes to generate more than Rs 6000 cr Under TOT model
auction will involve five highways running across Andhra Pradesh and four in Gujarat
total length of these highways is just under 700 km
Successful bidder to get toll collection rights for 30 years
Ministry of Commerce recommended Central Govt Anti dumping duty on Dimethylacetamide
Recommend duty for 5 Yrs on DMAC originating from China and Turkey
Co bags Rajasthan Project
Received a LOI to construct, own, operate and maintain Fatehgarh-Bhadla transmission project in Rajasthan
Received LOI from PFC Consulting Ltd, an arm of Power Finance Corporation
With this project, ATL will strengthen its existing presence in Rajasthan with 2 operational transmission projects and 4 under construction assets
On completion of this acquisition cumulative transmission network will reach 12000 ckt kms, out of which ~9000 ckt kms under operation
Transformation capacity of ATL will also increase to 19,300 MVA from 35 substations
To be out of F&O if it does not declare quarterly results by March 1
All existing F&O contracts will expire on March 28
No fresh contracts will be available if the firm fails to submit results for quarters ended September and December 2017 by March 1