Wednesday, May 6, 2015

Sensex falls 700 points

Sentiments in the Indian markets remained dull throughout that day. At the time of writing, the Sensex was trading lower by about 700 points or 2.5%. Weakness was seen in stocks across the board with engineering, realty and power stocks being the most affected. The midcap and small cap indices fell by about 3% each today as well.

the BSE-Realty index was amongst the top losers today on news of the Real Estate (Amendment) Bill and the Constitution (122nd Amendment) (GST) Bill 2014 getting stalled by the Congress-led opposition in the Rajya Sabha. The real estate bill is now proposed to be sent to the select committee of the Rajya Sabha. The opposition, led by the Congress, has been opposing the amendments made by the NDA government, claiming that it goes against the interest of the buyers and as such is pro-developers.