Markets

Budget 2020: Sensex nosedives 900 points, gives up 40,000 level

A view of the BSE building in Mumbai. File

A view of the BSE building in Mumbai. File   | Photo Credit: PTI

ITC was the top laggard in the Sensex pack, tanking 6%.

The BSE Sensex plummeted over 900 points to sink below the 40,000 level in the late afternoon trade on February 1, tracking a massive sell-off in capital goods and financial stocks after Finance Minister Nirmala Sitharaman presented the Union Budget for 2020-21.

After a highly volatile session, the 30-share index sank 900.29 points to 39,805.61. Similarly, the 50-share NSE Nifty plunged 248.05 points to 11,714.05.

ITC was the top laggard in the Sensex pack, tanking 6%, followed by HDFC, L&T, SBI, ICICI Bank and ONGC.

On the other hand, TCS, HUL, Tech Mahindra and Infosys bucked the market trend to trade with gains.

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Printable version | Feb 23, 2020 10:58:43 PM | https://www.thehindu.com/business/markets/budget-2020-sensex-nosedives-900-points-gives-up-40000-level/article30711732.ece

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