Markets News

Indian Market fell down by 5% before Union Budget

The Indian market again slipped down by the end of both the week and the month. Amid Union Budget, volatility in the stock market was witnessed towards the end of the month.

Continuous selling in the domestic market was seen followed by FII selling in light of weak global market.

On the back of this, market participants also booked profit before hand ahead of Union Budget 2021 release.

The Sensex dropped down by 2,592.77 points. It was down by 5.3 percent to close at 46,285.77 in the last week. Nifty also slipped at 737.73 points or was 5 percent to settle at 13,634.60 levels on the downside.

If we look at the monthly market data, the BSE Large-cap index also dropped down by 5 percent.

The losers list included Piramal Enterprises, Maruti Suzuki India, Reliance Industries, Tata Motors and Doctor Reddy’s laboratories for this month.

Apart from this, the market also witnessed many gains which was dragged by companies like Axis Bank, Cipla and Sun Pharmaceutical Industries. These companies closed with marginal gains in the Indian stock market.

BSE midcap index also slipped down by 3.6 percent along with BSE midcap index falling down by 2.3 percent.

Coming towards the sectoral data, the Nifty IT, Auto and Energy incurred more than 6 percent losses and this list also includes the infra sector bearing 5 percent loss.

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