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Following the disclosing of Budget 2024, the Sensex concluded with a decline of 107 factors, reaching 71,645.30, whereas Nifty settled at 21,690.
The midcap index within the broader market witnessed a decline of 271 factors. Among the highest Nifty 50 losers have been Grasim, L&T, Ultratech, and Dr Reddy’s, whereas Maruti, Power Grid, Cipla, and SBI Life emerged as the highest index gainers. Notably, Nifty PSU Bank index ended 3.1% larger.
Sectors like IT, media, steel, pharma, realty, and healthcare within the Nifty indices ended within the crimson, whereas different sectors skilled features.
This resulted in a big drop in India’s 10-year yield by 100 foundation factors to 7.04%, reflecting optimism amid lower-than-expected authorities borrowing. Simultaneously, the US FED’s determination to take care of charges with out clear steering on future cuts had a dampening impact on market sentiments, based on Vinod Nair, Head of Research at Geojit Financial Services. The Union Finance Minister, Nirmala Sitharaman, introduced the Interim Budget 2024 throughout this session.
Source: www.indiatvnews.com
