The presentation of the budget does not encourage markets like sensex, Nifty falls sharply

NEW DELHI: equity indexes plummeted sharply after the Union Budget presentation with the reference point BSE sensex It dropped more than 650 points and the widest trade near 11,750 levels.

The main losers in the sensex package include HDFC, L&T, Sun Pharma, Bajaj Finance, ONGC and Kotak Mahindra Bank with their shares falling to 4.40 percent. In NSE, the Nifty Realty and Financial Services subscripts sank to 5.63 percent.

In the previous session, sensex set 190.33 points, or 0.47 percent, to 40,723.49, after the Economic Survey suggested a relaxed fiscal deficit target to boost growth from a minimum of a decade. Nifty lost 73.70 points, or 0.61 percent, to finish at 11,962.10.

On a net basis, foreign institutional investors sold shares worth Rs 4,179.12 million, while national institutional investors bought shares worth Rs 3,816.44 on Friday, data on the stock exchanges showed. values.

Live plus According to analysts, investors are cautious in advance as all eyes will be on how the center will generate growth, since any increase in spending would result in an expansion of the fiscal deficit.

Negative signals from world markets amid concerns about China's coronavirus outbreak continued to affect investor sentiment here, operators said.

(With PTI tickets)