Sensex falls 107 points despite incentive provisions in the budget – News India Live

Mumbai: Finance Minister Nirmala Sitharaman today presented the last interim vote on account budget of the current tenure of the Modi government, in which capital expenditure was maintained by reducing borrowing and provision was made for the upliftment of every section of the society including the youth and the poor. , women, and financially disadvantaged people. Funds put the brakes on index-led gains in stocks today, reflecting uncertainty over whether the Federal Reserve will cut interest rates in March at the end of yesterday’s two-day meeting. Of course, with the Lok Sabha elections coming up and the Modi government not making any changes in the tax structure keeping in mind the full budget to be presented by the new government in July after the elections, funds, investors, players, the market has witnessed a fresh rally. Has shown discouragement in business. Sensex fell 106.81 points to 71645.30 and Nifty 50 spot index fell 28.25 points to 21697.45 as a result of profit-booking in capital goods, consumer durables, metal frontline stocks against selective gains in banking-finance, auto stocks.

Bankex increased by 247 points

Funds maintained preferred buying position in banking-finance stocks today. During the second consecutive day of buying due to quarterly results, the price of Bank of Baroda increased by Rs 8.25 to reach Rs 255.95. Axis Bank rose by Rs 16.75 to Rs 1084.20, State Bank of India rose by Rs 7.20 to Rs 647.85, IndusInd Bank rose by Rs 7.30 to Rs 1541.40, HDFC Bank rose by Rs 4.15 to Rs 15.15. .1466.40. BSE Bankex index closed 246.82 points higher at 52245.90.

Funds rise in PSU shares

Funds bought heavily in PSU shares today. With a disinvestment target of Rs 50,000 crore, the funds were buying PSU shares on the Make in India incentive. NBCC India increased by Rs 12.65 to Rs 142.05, NMDC increased by Rs 5.50 to Rs 225.35, power grid corp by Rs 6.45 to Rs 265.80, IOB 3.02 to Rs 3.02 to Rs. 52.09, Indian Bank increased by Rs 26.10 to Rs 524.85, UCO Bank 2.31 to Rs 48.844.

Selling in consumer durables shares

Shares of consumer durables companies were also being sold. Despite good results of Voltas, due to profit booking, shares fell by Rs 44.55 to Rs 1049.50, shares of Titan Company fell by Rs 71.40 to Rs 3626, shares of VIP Industries fell by Rs 8.55 to Rs 529.70. While Blue Star rose by Rs 47.10 to Rs 1185.70, Dixon Technology rose by Rs 140.65 to Rs 6126.

Profit booking in small, mid cap stocks

The market sentiment remained negative with disappointment leading to selling in Sensex, Nifty based small and mid cap stocks.

DII net purchases Rs 872 crore

Today-Thursday, FIIs made a net sale of Rs 1879.58 crore in cash. Whereas DII-Domestic Institutional Investors made net purchase of shares worth Rs 872.49 crore today.

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