Majority of Indian stock indices fell during closing hours on Friday due to disappointment over the lack of details in the federal budget.
A day after the Union budget was presented by Finance Minister Arun Jaitley, Sensex and Nifty opened on a bullish note but later traded lower.
Similar to Union budget, Indian railway budget disclosure too has had a positive or negative repercussion on Indian Stock market in the past.
India’s Sensex on Friday gained 0.14 percent while the Nifty rose up 0.13 percent ahead of budget on July 10. BSE Metal, Capital Goods, Auto and Power dipped by 135 points, 124 points, 13.22 points and 5.03 points respectively at 2:50 pm.
The Indian currency gained 9 paise during early trade at 59.64 per dollar, but it regained its Thursday’s closing price of around 59.73 a dollar at 10:30 am on Friday.
While the index was recorded 25844.83 points at 1:07 pm, which surged by 3.62 points and 0.01 percent after the resumption, it plunged by 3.30 points at 25837.91 points at 1:10 pm. Nifty too fell by 7.20 points at 7717.95 points.
The Indian stock market on Wednesday opened on bullish note, following Finance Minister Arun Jaitley inaugurated digital banks across the nation on Tuesday. The stocks of banking sector plunged higher, but BSE Information Technology stocks declined during trading hours.
All Indian stock indices bullish during early trade, but the rupee fell flat at 60.03 per dollar on Monday. The BSE index rose one percent, while the Nifty index gained 0.99 percent during early trade on Monday, following the gains in Asian markets.
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