Market mood suffered another setback after Fitch Ratings today said high debt burden of the government constrains India's rating upgrade.
In his last full Budget before next year's general election, Jaitley stepped up government spending in rural areas while the fiscal deficit target for FY19 was pegged at 3.3% of GDP against an earlier target of 3%.
Investors will also have to pay 10 per cent tax on distributed income from equity-oriented mutual funds.
Sensex and Nifty took a beating on Friday, post the budget presention.
NTSB: Train traveling over speed limit when it crashed
Officials at the University of Virginia Medical Center said four victims from the crash have been treated and released. The lawmakers and their families were "OK, with the exception of a few minor injuries", CNN quoted sources as saying.
In the broader markets, the S&P BSE mid-cap index dipped by 4.03 per cent and the small-cap index by 4.65 per cent.
Following the sharp decline in stocks, the market capitalisation of BSE-listed companies tumbled Rs 4,58,581.38 crore to Rs 148,54,452 crore.
The Indian rupee on Friday pared all the morning losses and strengthened against the USA dollar in mid-day trading.
But short term capital gains tax continues to be at 15 percent. "Additionally, rising inflation and yield may push the RBI to be more hawkish on interest rate in the coming monetary policy".
According to market observers, expectation of sops from the Union Budget, along with positive Asian markets and healthy buying in consumer durables, capital goods and banking stocks, lifted investors' risk-taking appetite.
While HCL Technologies, Bajaj Auto, and ITC gained early, stocks of Axis Bank, Yes Bank, SBI, Adani Ports, ICICI Bank, Kotak Mahindra Bank, and Tata Steel incurred early losses.
European stocks ended Thursday's session in the red, extending losses for the fourth straight session on worries over rising bond yields after USA policymakers raised their forecast for inflation.