Markets Slide, No Stimulus From Economic Package

by GoNews Desk 2 weeks ago Views 858
Markets Slide, No Stimulus From Economic Package
The share market has not welcomed PM Narendra Modi’s hefty package of Rs 20 lakh crore. 

Finance Minister Nirmala Sitharaman presented the particulars of this package on Wednesday but on Thursday morning, there was no lustre in the share market.

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Sensex, Nifty and Bankex nosedived as soon as the markets opened for trade. 

In the morning, the Sensex plunged by around 2.04% and a fall of 653 points was witnessed. 

Hathway Cable suffered losses of 7.07%, Mahindra Holiday and Resorts witnessed losses of 6.50%, Reliance Capital saw losses of 5.03% and TV18 had to suffer losses of up to 4.95%. 

The relief package was not appreciated by the Nifty too, which tumbled by 2% or 191.15 points. Over here, a deceleration was registered in sectors such as steel and IT. 

Bankex also appears upset with efforts to breathe life into the economy. With a fall of 458 points, Bankex is currently trading at 21946.80.

Here too, a downturn is being seen in stocks such as IndusInd, HDFC, ICICI and SBI since morning.

It is clear from share market statistics that there is no enthusiasm in the share market for the Prime Minister’s Rs 20 lakh crore package.

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