Following the revealing 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 had 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, metallic, pharma, realty, and healthcare within the Nifty indices ended within the crimson, whereas different sectors skilled beneficial properties.
This resulted in a vital 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 choice to keep up 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, offered the Interim Budget 2024 throughout this session.
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