Budget 2020 Share Market Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) fell around 2.5 per cent on Saturday, the most in a day since November 2016 after Finance Minister Nirmala Sitharaman’s Budget 2020 proposals failed to cheer market participants.
The S&P BSE Sensex settled at 39,735.53, down 987.96 points (2.43 per cent), while the Nifty 50 slipped 300.25 points (2.51 per cent) to end at 11,661.85. During the intraday trade, the 30-share BSE benchmark fell as much as 1,092.25 points to 39,631.24, while the Nifty slipped to an intraday low of 11,633.30.
Generally, the markets are shut during the weekends, but they were open today on account of the Union Budget 2020.
Among the sectoral indices on NSE, the Nifty Bank index crashed 1,024.00 points (3.32 per cent) to settle at 29,809.60 weighed by State Bank of India (SBI), Bank of Baroda and ICICI Bank. Apart from the Bank Nifty, the Nifty Financial Services index slipped 558.55 points (3.90 per cent) to end at 13,758.35 weighed by SBI Life Insurance Company and Housing Development Finance Corporation. The Nifty FMCG index too slipped 556.65 points (1.81 per cent) to end at 30,218.65 weighed by ITC and Britannia Industries.
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In the broader market, the S&P BSE MidCap index ended at 15,119.65, down 342.36 points (2.21 per cent), while the S&P BSE SmallCap settled at 14,344.70, down 323.26 points (2.20 per cent).