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Budget 2020 Share Market Highlights: Sensex, Nifty crash as Union Budget fails to cheer Indian stock market amid weak global cues

FE Online

Budget 2020 Live Updates, Share Market 2020 Live

Share Market Budget 2020-21 Live Streaming: Domestic equity benchmarks Sensex and Nifty crashed over 2.5 per cent each, as Union Budget disappointed the investors in the trade today. In the final hour of the trade, S&P BSE Sensex crashed around 1,100 points, while the broader Nifty 50 index dropped 318 points or 2.67 per cent and slipped below the crucial level of 11,650 points. At close, Sensex ended 988 points or 2.43 per cent at 39,735.53 while the NSE’s Nifty 50 finished 318 points or 2.66 per cent at 11,643.80 points. 25 out of 30 Sensex stocks finished in red in today’s trade. ITC was the top loser on the Sensex pack, down 7 per cent to Rs 218.55, followed by LT and HDFC, down 6 per cent each. SBI, ONGC, ICICI Bank were among the other laggards on the index. Conversely, TCS, Hindustan Unilever, Nestle India, Tech Mahindra and Infosys were the only gainers.

Barring the Nifty IT index, all the sectoral indices ended in red. The Nifty Bank index dropped 1,024 points or 3.32 per cent dragged down by RBL Bank, SBI, Bank of Baroda and ICICI Bank. Nifty FMCG index, too, tanked 556 points at 30,218 points, weighed by ITC, Britannia, Marico and Dabur India. The broader markets also performed in line with the equity benchmarks. S&P BSE MidCap index ended 343 points or 2.21 per cent at 15,119.65 points, while S&P BSE SmallCap, too, finished 323 points or 2.20 per cent at 14,344.70 points.

Nirmala Sitharaman in her Budget speech also announced that the government is planning to sell a part of holding in public sector behemoth Life Insurance Corporation of India (LIC).