Market Live: Stock market enthusiasm on package cools, Sensex opens below 32000, Nifty drops 175 points
Today the stock market is giving a very cool response to the booster dose of Rs 6 lakh crore to provide relief to MSMEs, NBFCs, MFIs, discoms, real estate, tax and contractors. There is no visible enthusiasm in the stock market in Preopan. Sensex fell 542 points to open at 31,466.33 today. The Nifty slipped 175 points in early trade.
9:28 am: Talking about sectoral index, all sectors except Nifty FMCG and Pharma are trading on red mark. Bajaj Finance 1.65 per cent, ITC 1.39 per cent, Nestle 1.06 per cent, Kotak Mahindra Bank 0.86 and Sun Pharma 0.71 per cent are up in the list of Nifty top gainers. Infosys, Tech Mahindra, Mahindra & Mahindra, Power Grid, Tata Motors are in the top losers.
On the other hand, if we talk about the worldwide markets, on Wednesday, the American stock markets closed with a fall. The Dow Jones of America was down 2.17% to close at 23,248.00, down 516 points. At the same time, the second US Nasdaq market fell by 1.55% to close at 8,863.17, down 139.38 points. The S&P dropped 1.75 percent. China’s Shanghai Composite fell 0.50 per cent, while the markets of France, Germany and Italy also closed down.
To accelerate the derailment of the Corona crisis, 15 announcements of about 6 lakh crore were made on Wednesday out of Modi’s special package of 20 lakh crore. How its stock market reacts today, the market will start opening up. However, on Wednesday, the Sensex and Nifty closed sharply. Explain that Finance Minister Nirmala Sitharaman made 15 announcements to give relief to MSMEs, NBFCs, MFIs, discoms, real estate, tax and contractors at a press conference on Wednesday.
Explain that after the announcement of the package of 20 lakh crore, the stock market, which took flight on Wednesday morning, closed with an edge after being sluggish. The Sensex opened with a gain of 1470 points in the morning and closed at a level of 32,008 with a gain of 637 points. The Nifty also opened 187.00 (2.03%) points after opening at the level of 9,584.20, closing at 9,383.55.
Also read: In the package of 20 lakh crores, where relief for middle class and where there will be trouble, these hand salary will increase, but the wait for flat will also increase.
On this package, the industry said, “The stimulus package will help the economy overcome the corona crisis.” Industry on Wednesday praised the Finance Minister’s stimulus package brought to the attention of MSMEs, distribution companies and the real estate sector. He said this would help companies and the economy deal with the effects of the Corona virus crisis. Industry boards said that these measures will increase cash in the market and give new life to the micro, small and medium enterprises (MSMEs) trapped in the crisis.