Budget expectations are aflush, and markets have corrected more than 5% from their all-time highs, making equities that were very expensive a few weeks back scale down a little bit.
Share Market News Today | Sensex, Nifty, Share Prices HIGHLIGHTS: Domestic equity market benchmarks
BSE Sensex and NIfty 50 ended over half a per cent lower on Wednesday dragged by sell-off in index heavyweights such as Reliance Industries Ltd ( RIL), Infosys and ITC. S&P BSE Sensex fell 264 points, or 0.54 per cent, to settle at 48,174 while the broader Nifty 50 index slipped below the crucial 14,150-mark and ended the session at 14,133, down 66 points or 0.47 per cent. Out of 30 Sensex stocks, 13 scrips ended in the green, led by Power Grid Corporation of India. Bharti Airtel, ONGC, UltraTech Cement, ICICI Bank, State Bank of India ( SBI), and Kotak Mahindra Bank were among top Sensex gainers. The trend among the Nifty sectoral indices was mixed. Nifty IT and Nifty FMCG indices were the top sectoral losers on the NSE, down 1.36 per cent and 1.13 per cent, respectively. On the flip side, Nifty Metal index ended 1.3 per cent higher.
President Ram Nath Kovind would address the joint sitting of the two Houses of Parliament on January 29, a Friday, and the Union Budget would be presented on February 1, PTI mentioned sources as citing the CCPA recommendations. The Economic Survey would be tabled in the Lok Sabha on January 29 after the President’s address, the sources said.