With this, the Sensex has fallen 818 points in the last two days, largely on the FPI tax worries. On Friday, led by a sell-off in auto and banking stocks, the 30-share index plunged 560.45 points or 1.44 per cent to settle at 38,337.01.
Yes Bank was the biggest loser in the Sensex pack, cracking over 10 per cent, after the company reported a massive slump of 92.44 per cent in its consolidated net profit to Rs 95.56 crore due to a Rs 6,232 crore addition to non-performing assets, which resulted the provisions to zoom.
While the fall in the benchmark indices was broadly in line with their Asian peers, which slid on strong US jobs data, the NDA government's move to tax share buybacks and hike minimum public shareholding in listed companies were among the domestic reasons that disappointed investors.
After swinging nearly 200 points in the first half hour of the session, the 30-share index was trading 29.49 points, or 0.07 per cent, higher at 39,845.97 at 0945 hours. Similarly, the broader Nifty was quoting 6.60 points, or 0.05 per cent, up at 11,916.90.
Mumbai, Mar 01 (ANI): Sensex rose sharply on Tuesday a day after Finance Minister Arun Jaitley said the government would stick to its fiscal deficit target. The benchmark Sensex was trading 700 points higher where as Nifty was up by 220 points. Analysts said a commitment by Jaitley in the annual budget to meet the fiscal deficit target of 3.5 percent of the gross domestic product would raise confidence among foreign investors after heavy selling this year. A market expert, Sunil Shah, attributed the sudden jump in stock markets to the government decision to put money in farm sector to revive rural economy. Shah added that the coming monsoon will revive the growth and there will be a demand push because of the thrust given by the government towards the rural economy.
New Delhi, Feb 12 (ANI): As the Bombay Stock Exchange (BSE) Sensex plunged around 800 point on Thursday, Finance Minister Arun Jaitley on Friday came out to calm the investors, saying that there was no need for an 'exaggerated panic' among investors. Jaitley emphasised that the investors should keep in mind the inherent strength of the Indian economy while investing. He added that the Government is fully committed to empower and support public sector banks by providing whatever capital requirements is required, adding that the problem of recovering bad loans from the borrowers will soon be ended.
In a stock market bloodbath, benchmark Sensex on Monday sunk 1,624.51 points to end the day at 25,741.56 — the biggest in over seven years — amid a global rout, while more than Rs 3 lakh crore got wiped out of the investors’ wealth. See more at: https://indianexpress.com/article/business/market/sensex-tanks-1000-points-rupee-lowest-since-sept-2013/#sthash.H2VSOEoM.dpuf