India

Sensex Falls 1000 Points, Worst Post Budget Drop In Ten Years

By
OB Bureau

The benchmark equity Sensex slipped over 1000 points to settle below the 40,000 level after Finance Minister Nirmala Sitharaman presented the Union Budget for 2020-21.

At 3.14 pm, Sensex read 39,709 points.

Similarly, NSE Nifty plunged 248.05 points to 11,714.05.

Major losers included ITC (6 per cent drop), followed by HDFC, L&T, SBI, ICICI Bank and ONGC.

On the other hand, TCS, HUL, Tech Mahindra and Infosys gained a few points.

Sitharaman pegged the fiscal deficit at 3.8 per cent in the current fiscal, compared to the earlier target of 3.3 per cent of GDP.

OB Bureau

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