The benchmark indices on BSE and NSE settled around 0.5 per cent lower ahead of the union budget 20-21. (Representational image)
Share/Stock Market Highlights: The benchmark indices on the BSE and National Stock Exchange settled around 0.5 per cent lower on Friday, ahead of the presentation of Union Budget 2020 in Lok Sabha.
The S&P BSE Sensex settled at 40,723.49, down 190.33 points (0.47 per cent), while the Nifty 50 slipped below the 12,000-mark to end at 11,962.10, down 73.70 points (0.61 per cent).
Among the sectoral indices on NSE, the Nifty metal index was the worst performer of the day after it fell 2.28 per cent dragged by NMDC, National Aluminium Company and JSW Steel. This apart, the Nifty Pharma index slipped 1.20 per cent weighed by Glenmark Pharmaceuticals and Piramal Enterprises.
In the broader market, the S&P BSE MidCap settled at 15,459.08, down 97.26 points (0.63 per cent), while the S&P BSE SmallCap closed at 14,665.54, down 38.42 points (0.26 per cent).
(with inputs from agencies)
"Investors stayed away from taking fresh positions ahead of the big event. Focus will turn to union budget as all eyes will be on how centre is going to bring growth as any increase in spending would result in widening of fiscal deficit. Global economy is also on the edge with slow growth fears significantly high after the outbreak of the virus."
The S&P BSE Sensex slipped 190.33 points (0.47 per cent) to end at 40,723.49, while the broader Nifty 50 settled below 12,000-mark at 11,962.10, down 73.70 points (0.61 per cent).
The S&P BSE Sensex is down just 25 points or 0.06 per cent.
Here is how the other key BSE indices are performing:
Economic Survey puts current fiscal growth at 5 per cent and says fiscal deficit target for current fiscal may need to be relaxed to revive growth.
Economic Survey projects economic growth at 6-6.5 per cent in the fiscal year starting April 1, 2020
President Ram Nath Kovind Friday addressed the joint sitting of the Parliament, at the beginning of the Budget Session 2020, during which he hailed the contentious Citizenship Amendment Act (CAA) as “historic”, prompting ruckus in the Central Hall. “The Citizenship Amendment Act is a historic law. It has fulfilled wishes of our founding fathers including Mahatma Gandhi,” he said adding that debate and discussion on any issue strengthens democracy while violence during protests weaken it. Click here to follow the latest updates
Shares of Wipro fell as much as 2.28 per cent on both the BSE and National Stock Exchange (NSE) in the early trade on Friday after the company announced that its Managing Director (MD) and Chief Executive Officer (CEO) Abidali Z Neemuchwala is stepping down due to family commitments.
The stock slipped to Rs 235.30 on the BSE and to Rs 235.20 on the NSE. In terms of trade volumes, over 21.86 lakh shares of the company have been traded so far on NSE while on BSE over 92 thousand shares have exchanged hands in the intraday trade. Click here to read the complete story
On the Sensex, gains in the early morning trade were being led by Kotak Mahindra Bank, Bajaj Auto, IndusInd Bank and M&M. On the other hand, ONGC, Power Grid and NTPC were among the top losers.
Here's how the Sensex stocks were trading:
IT major Wipro India’s Managing Director (MD) and Chief Executive Officer (CEO) Abidali Z Neemuchwala Friday announced his decision to step down citing family commitments. The company’s board of directors has initiated the search to identify the next CEO, the management said in a statement. Meanwhile, Neemuchwala will continue to hold the position until a successor is appointed to ensure smooth transition, the company added. Click here to read the complete story
The S&P BSE Sensex opened at 41,146.56, up 232.74 points (0.57 per cent), while the Nifty 50 began at 12,100.40, up 64.60 points.