Markets Dive On Budget 2019; Sensex Closes 400 Points Down At 39,513, Nifty 135 Points Lower At 11,811
Expecting good news from the Union Finance Ministry, the BSE Sensex crossed 40,023 mark (a gain of 114.99 points) while Nifty touched 11,979.00 (a gain of 42 points) on Friday.
New Delhi, July 5: Finance Minister Nirmala Sitharaman presented her maiden Union Budget 2019 at the Parliament today. The markets have ended in the red for the day. Sensex closes 400 points down, at 39,513.39. On the other hand, Nifty ended the trade session at 11,811.15, down 1.14%
While the Budget speech was going on, the stock market remained volatile. However, after the speech ended, the indices nose-dived.
In anticipation from the Union Finance Ministry, the BSE Sensex crossed the 40,023 mark (a gain of 114.99 points) while Nifty touched 11,979.00 (a gain of 42 points) in early trades on Friday.
Earlier, the markets opened jumped back, as BSE Sensex on Friday opened at 39978.14, with a gain of 70.08 points than the previous day. On the other hand, Nifty too opened at 11,967.15, with a gain of 20.04 points than Thursday. Union Budget 2019 Speech by Nirmala Sitharaman Live News Updates: FM Keeps Budget Documents In Red Cloth Instead of Briefcase, CEA Says It is Indian Tradition
As per the market rate, the Rupee value to the US dollar remained to 68.59 and it is expected that the value of Indian currency would rise. The price for gold - for 10 grams - remained to be Rs 36,223, a rise in Rs 6. Along with this, the value for most of the shares for big gainers are expected to gain during the entire course of the day, however, investors need to be cautious while investing in the respective fields.
Among the big gainers at the opening of the stock market, The New India Insurance (a gain of 2.50 points ), Quess Corp Ltd. (24,90), India Mart (40.55), VSt Industries (52.25), TTK Prestige (90.85), Shree Cements (283.75), among others. While the top losers include Khaitan India (2.10), KRBL (21.20), GM Breweries (24.80), Genesys International (6.65) among others.
Considering the point that investors are looking at the Union Minister with high hopes, the statistics are bound to change and Sensex might see an upbound in the coming couple of hours. Economic pundits even opine that the Sensex might cross 41,000 points today while Nifty likely to cross 13,000, provided market behave positively with the Union Budget 2019.
(The above story first appeared on LatestLY on Jul 05, 2019 04:27 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).