Market records steepest weekly declines in over two years
At close, Sensex ended near the 78,000 mark, shedding 1.5% from the previous session, while the Nifty fell below 23,600, also down 1.5%.
Indian markets crashed on Saturday after the Finance Minister Sitharaman concluded her record-long Union Budget speech. The minister revised country’s fiscal deficit to 3.8%, for the current fiscal year from the previous target of 3.3%.
The minister also said that the companies will not need to pay dividend distribution tax (DDT).
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At 3.03 pm the Sensex touched an intra-day low at 39,710.48, down 1,013.01 points.
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The gainers on the Sensex so far were TCS, HUL, Tech Mahindra, Infosys and Bharti Airtel. The major losers were ITC, Larsen, HDFC, Larsen, Tata Motors, and SBI.
Similarly, Nifty fell by 385.15 points at 11,650.65.
(With input from agencies)
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