Published On : Fri, Jul 5th, 2019

Sensex sees red after Nirmala’s Budget

Equity benchmark indices tumbled lower during the afternoon on Friday after Finance Minister Nirmala Sitharaman presented the Union Budget for 2019-20.

It was the new government’s first budget, which came a day after the Economic Survey projected GDP growth rebounding from a five-year low to 7 per cent in the current financial year 2019-20.

At 14:40 hours, the BSE S&P Sensex was down 305 points at 39,606 while the Nifty slipped to 11,846.

At the National Stock Exchange, all sectoral indices were in the red.

Among stocks, Yes Bank lost over 5.4 per cent while NTPC was down nearly 4.6 per cent. ONGC, Indian Oil and UPL also lost over 3 per cent.Among the gainers, however, were Indiabulls Housing Finance, IndusInd Bank, Bharti Infratel, Bharti Airtel and Kotak Bank.