BSE Sensex and NSE Nifty 50 indexes fell sharply ahead of the Union Budget 2020. (Photo Credit: Composite Image)
In the earlier trends, market benchmark Sensex slumped over 200 points in opening session on Saturday ahead of the release of the Union Budget to be presented by Finance Minister Nirmala Sitharaman later in the day. After shedding 279 points in early trade, the 30-share BSE index was trading 124.96 points or 0.31 per cent lower at 40,598.53, and the broader NSE slipped 23.10 points, or 0.19 per cent, to 11,939.
Sensex nosedives 900 points, sinks below 40,000 level
Market benchmarks sensex down by 680 points, while nifty plunged by 200 points.
Sensex tanks 452.14 points to 40,271.35 in afternoon trade; Nifty slumps 111.70 pts to 11,850.40.
After the Finance Minister proposed a national logistics policy in her Budget speech to create a single-window e-logistics market, most logistics stocks jumped.
Oil and Natural Gas Corporation Ltd (ONGC) stocks down by more than 7 percent.
Sensex was down 91 points at 40,632 and while Nifty traded at 11,930, down by 32 points.
After a brief gain, Sensex plunged again. Market benchmarks Sensex and Nifty turned cautious in late-morning trade today.
Railway stocks are giving mixed reactions after Finance Minister Nirmala Sitharaman made announcements regarding Railways in her ongoing budget speech in Lok Sabha.
After the announcement of in the electronics sector, the markets have reacted negatively.
As Finance Minister announced that fish production would be raised to 200 lakh tonnes by 2022-23, fisheries stocks have responded favourably.
As Finance Minister presents Budget for Financial Year 2020-21, share markets turned flat. The Sensex was up 9 points at 11,971 and the NSE Nifty 50 index was 32 points reaching the 40,755 mark.
Recovering the early losses, BSE Sensex and NSE Nifty extended gains as Finance Minister Nirmala Sitharaman presents Budget in Lok Sabha.