Sharp fall in capital goods production and manufacturing activity also dented sentiments.
However, Adani Australia has clarified on its Facebook page on Monday that in terms of quality of the coal it is almost 50 per cent better than that used domestically.
As per the budget document presented in Parliament, public sector enterprises, including banks, are expected to contribute Rs 88,188 crore in the form of dividend and profit to the government in the current financial year.
An announcement has barred the entry of journalists in the finance ministry.
The ministry has also noted the controversial proposal of opening up the coal sector and restructuring of CIL.
Muted quarterly earnings, mixed cues from global markets and unabated foreign fund outflows added to the volatility
Union minister for coal and mines Mamata Banerjee on Monday announced 15 per cent interim relief for coal miners and employees and said no collieries would be closed and no retrenchment would be made.
A sovereign bond float continued to be among the range of options to address the current account deficit (CAD), Finance Minister P Chidambaram said on Tuesday, even as former Finance Minister Yashwant Sinha asked him to tell Parliament the Centre would not countenance that measure.
In the longest losing streak of 2017, the BSE Sensex has lost 1,270 points, or 3.91 per cent. It fell to a three-month low of 31,154.03 on Wednesday.
Companies write off investments, shed assets as initial projections go haywire
The 50-stock NSE barometer Nifty finished 22.50 points, or 0.21 per cent, down at 10,526.20
At end of week, Infosys had a market valuation of Rs 2,69,489 cr, or Rs 432.68 cr more than HDFC Bank's Rs 2,69,056 cr
In New York, the dollar fell against the British pound on Wednesday after the Bank of England raised its projections for UK growth in 2014. However, analysts warned that gains against the dollar could be limited.
Over 54,000 public sector employees opted for voluntary retirement scheme in 2001-02, Rajya Sabha was informed on Monday.
Almost all major metal and mining firms would be affected by the Supreme Court ruling canceling 214 coal blocks, but Naveen Jindal's JSPL and Aditya Birla Group's Hindalco would be among the worst hit, analysts said.
With the benchmark Sensex witnessing a dream-run, total market valuation of BSE listed companies has inched closer to Rs 100 lakh crore milestone.
The market valuation of top five Sensex companies fell by Rs 36,971.61 crore (Rs 369.71 billion) last week, with ONGC and Sun Pharma being the worst hit.
GST implementation could happen in September itself, with the next meeting of the Union Cabinet likely to take up the matter.
The broader NSE Nifty too fell below the 10,100 level by dropping 100.10 points to end at 10,094.25
The 50-issue NSE Nifty too cracked the 10,200-mark and hit a low of 10,108.55 before finishing 104.75 points, or 1.02 per cent down at 10,121.80.
As coal stocks at thermal plants fall to critical levels, economic recovery could be hi.
Fresh buying by domestic institutional investors and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment
Using buyback as a divestment tool is not new, the amount raised this year is phenomenally high.
Moody's, which cut its FY14 growth estimate to 4.5 per cent recently, said economic growth will be lowest in a decade.
Investors will keenly watch US Fed meet starting Tuesday
Strategy being reworked to launch ETFs, revive Suuti; proceeds may be Rs 24k crore
TCS heads top-10 ranking despite being sole loser; RIL, ITC take second & third place respectively
The coal-scam has taken an important turn as the Central Bureau of Investigation has charge-sheeted former bureaucrat P C Parakh and industrialist Kumarmangalam Birla. The next big thing is to see that if the coal-blocks allotted, fraudulently, are cancelled or not either by Supreme Court or by the government as pre-emptive action.
Most of the session's gains for both the indices were wiped out as investors rushed to book profits ahead of F&O expiry on Thursday and also due to concerns over stretched valuations.
According to coal ministry officials, the Bill is likely to be introduced in the Lok Sabha on Wednesday. The Coal Mines (Special Provisions) Ordinance, 2014 was brought in October this year in the wake of the Supreme Court's decision cancelling 214 coal blocks.
Gains in key IT, capital goods, healthcare and metal stocks, after consistent buying by domestic and foreign investors, helped both the key indices to scale new peaks.
Coal requirement for the plant would be met through Coal India.
The BSE gauge Sensex fell 73.88 points to 35,548.26 and the NSE Nifty slid 17.85 points to 10,799.85, taking cues from tumbling global shares.
Reliance improved its ranking this year to 121 from 142 last year, with a market value of $50.6 billion and assets worth $91.5 billion.
It is domestic policy distortions and inaction to correct them that lie behind the large CADs.
Investors lost around Rs 1.57 lakh crore in market valuation on Friday.
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The upgrade comes after the domestic markets scaled their lifetime highs last week.
In contrast, investors' wealth had surged by over Rs 1 lakh crore (Rs 1 trillion) to Rs 70,44,431 crore (Rs 70,444.31 billion) in 2013.
'Can the Aam Aadmi Party challenge the BJP? Someday perhaps. But to set him up as a national alternative just now smacks of the very sin that Arvind Kejriwal admits brought him down in 2014 -- arrogance.'
The S&P BSE Sensex dropped 207 points to end at 25,230.
