Sensex falls more than 150 points; Ingenious below 11,700

MUMBAI: The sensex of the market reference fell more than 150 points in the session on Monday morning, as the sentiment of investors received a beating after the Union Budget did not meet expectations.

After swinging more than 300 points at the start of the session, the BSE index of 30 shares was trading at 125.45 points or 0.32 percent lower at 39,610.08, and the broader NSE fell 21.30 points, or 0.18 percent, to 11,640.55 .

In the previous session, sensex recorded its biggest drop in a single day in more than a decade on Saturday after the Union Budget did not meet market expectations for measures to boost fiscal growth and discipline.

Sensex closed 987.96 points or 2.43 percent less at 39,735.53, and Nifty added 300.25 points or 2.51 percent to close at 11,661.85.

Live plus Meanwhile, on a net basis, foreign institutional investors sold shares worth Rs 1,199.53 rupees, while national institutional investors bought shares worth Rs 36.64 rupees on Saturday, data showed available in stock exchanges.

ITC, Hero Motocorp, M&M, Tata Steel, HDFC Bank and ONGC were among the leading laggards, while Asian Paints, IndusInd Bank, Nestle India, HUL and Bharti Airtel negotiated with profits.

According to analysts, the market is disappointed as the budget had no significant measure to stimulate demand and did not provide any relief on capital gains tax as expected from the budget.

In presenting the Union Budget for 2020-21 in Parliament, the Minister of Finance, Nirmala Sitharaman, set the fiscal deficit at 3.8 percent for the current fiscal, compared to the previous target of 3.3 per percent of GDP.

También propuso una losa de impuestos sobre la renta plus baja para aquellos que renuncian a varias exenciones, y eliminó el impuesto sobre la distribución de dividendos a las empresas, transfiriendo efectivamente la carga fiscal a los destinatarios.

In addition, market volatility also increased after Chinese stocks opened after a prolonged pause, operators said.

Los cursos en Shanghai cayeron en picado plus del 8 por ciento, Japón y Corea del Sur se negociaron con pérdidas significativas, mientras que Hong Kong subió.

Brent crude oil futures fell 0.69 percent to $ 56.23 per barrel.

The rupee depreciated 26 paise at 71.58 against the US dollar in the morning session.

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