After the strong bullish push in the early session on Friday, Indian equity indices Sensex and Nifty fell sharply by 1% each post budget announcement and ended in the bearish territory.
Earlier today, equity indices Sensex and Nifty started on a positive note and traded in the green, with Sensex reclaiming 40,000 level for the first time since June 11 and Nifty rising above 11,970, ahead of highly anticipated Union Budget 2019 speech.
Although, after four straight days of consecutive gain, Sensex and Nifty pared early gains and fell in the bearish territory by the mid-budget speech. With no major surprises, the speech that lasted for over two hours failed to excite the market, and cautious investors later sold their positions in the absence of any positive announcements for the market.
By the closing bell, Sensex had fallen over 394 points to 39,513 and Nifty50 ended at 11,811 level today, registering a loss of 135 points.
Post Sitharaman 's Budget speech, all the sectoral indices were trading in the red. By the closing session, Metal, Oil & Gas, Realty, Pharma and IT stocks dragged the market further down, while the banking sector stocks and FMCG ended in the green.
India Vix, the volatility index that measures NSE Nifty's volatility over the day, started marginally higher at 13.57 above yesterday's close of 13.53. Although by the closing bell, the index slipped to 13.02, signalling lower volume traded on the Budget day.
The BSE Sensex had an intraday high of 40,032.41 and a low of 39,441.38 today. The broader Nifty50 has made an intraday high of 11,981.75 and a low of 11,797.90.
On NSE, the advance decline ratio stood at 0.31, indicating negative momentum, with 386 stocks advancing against 1258 declining stocks, while 75 remained unchanged. On BSE, at an advance decline ratio of 0.47, a total of 1678 stocks declined against 791 positive ones, while 137 remained unchanged.
Shares of IndusInd Bank, Kotak Bank, Hindustan Lever, Bharti Airtel, Asian Paints, SBI, HCL Tech, Bajaj Finance, HDFC, ICICI Bank, Bajaj Auto, Maruti were the toppers of Sensex 30 index.
Edited by Rupa Burman Roy