JAIPUR-NEW DELHI | Updated February 2, 2018:
Budget woes: This is the biggest single day fall in the market after note ban Demonetisation, Panic in the market by LTCG provision
It was a day after the Union Budget 2018 that the stock market closed with a huge decline. The Sensex fell by 839 points to 35,066 and the Nifty closed 256 points at 10760.
Realty Shares saw vigorous selling
All indexes except IT remained and closed in the red mark. The best-selling were some Realty Shares and there was some buying in Bank (2.83 per cent), Auto (3.35 per cent), Financial Services (3.07 per cent), FMCG (0.63 per cent), Metal (3.02 per cent), Pharma (1.27 per cent) and Realty (6.17 per cent).
The Top loser – Ultra Cement
Biggest decline was witnessed in the shares of Ultra Cement, Bajaj Finance, Bajaj Auto, GAIL and India Bulls Finance. On the other hand, Tech Mahindra, HCL Tech, TCS, Infosys and Hindustan Unilever also saw some decline.
Also Read: Budget Highlights: 70 lakh jobs, No income tax relief, 20 lakh new toilets in next 2yrs
The fall started in the stock market at around 2.15 p.m. when the main index Sensex went weak by 628 points and Nifty was trading at a 10821 level with weakness of 195 points. On the National Stock Exchange, the mid-cap index was trading at 3.55 percent and the smallcap was at 5.04 percent weakness. Soon most selling started in Realty Shares. In Nifty, the top losers include Bajaj Finance, Bajaj Finance, Ultra Cement, Maruti and India Bulls Finance Housing Finance.
Rupee also weakens
Indian rupee traded at 16 paise lower at 64.18 compared to dollar. In Thursday’s trade, the rupee fell by 44 paise to close at 64.02 level. This was the lowest level of two weeks.
Global market indices
There was mixed signs in the international market.
Japan’s Nikkei —- 1.05 per cent weakness, at 23239,
China’s Shanghai — 0.41 per cent weakness at 3432,
Hongsang rose by 0.12 per cent to 32682
Korea’s Cospy 1.57 per cent fall with 2528
US market B closed down due to the fall in trading.
Dow Jones gained 0.14 percent, at 26286 level
S & P 500 fell by 0.06 percent to 2821
Nasdaq dropped by 0.35 percent to 7385
Read Also: Market update Live: Sensex in Red, Nifty below 10100
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