Market extends losing streak for third consecutive session
At close, Sensex was down 502.25 points or 0.62% at 80,182.20, and the Nifty was down 137.15 points or 0.56% at 24,198.85.
Domestic markets were trading in a choppy manner on Saturday as the Finance Minister Nirmala Sitharaman presents the Union Budget 2020.
The tepid trade in the domestic indices can also be attributed to the decline in the US and Asian markets after US President Donald Trump declared a public health emergency in response to the coronavirus outbreak in China.
Advertisement
At 11.35 a.m., the Nifty50 on the National Stock Exchange (NSE) was trading at 11,999.85 points, higher by 0.32 per cent from the previous close of 11,962.10 points.
Advertisement
On the other hand, BSE Sensex was trading at 40,840.46, higher by 0.29 per cent from the previous close of 40,723.49 points. It had opened at 40,753.18 and has so far touched intra-day high of 40,764.02 points and a low 40,444.48 points.
The markets during the day will take cues from the Union Budget for FY20-21 to be presented by Finance Minister Nirmala Sitharaman. Investors expect several steps to revive the economy and the sentiments in the market.
The budget this year comes at a crucial time as the economy is going through a severe slowdown and consumer sentiments are also significantly subdued.
(With input from agencies)
Advertisement
