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Sensex tanks by 394.67 pc, as budget fails to boost sentiments


Agencies, Mumbai Snapping its gaining spree for the fourth straight session on Friday, the BSE Sensex tanked by 394.67 points, to end the volatile session on a negative note at 39,513.39, on back of heavy selling in Metal, Realty, Power, IT,Auto, Oil & Gas, Health care, Capital goods and stocks, after Budget failed to boost the sentiments. The Nifty of National Stock Exchange (NSE) too declined by 135.60 points, to close at 11,946.05. Equity markets opened higher, with Sensex hitting the 40,000 mark in early trade. The Nifty edged closer to 12,000. The Indian stock market investors keenly waited for the Union Budget. After Finance Minister Nirmala Sitharaman presented the first full budget of the new government, the equity indices slipped in to the red zone. Sensex touched the day's high and low at 40,032.41 and 39,441.35 points, respectively. The Nifty touched day's high and low at 11,981.75 and 11,797.90 points, respectively. The S&P BSE Mid-Cap was down by 1.39 per cent and BSE Small-Cap was down by 1.36 per cent. The market breadth, indicating the overall health of the market, was weak. On the BSE, 784 shares rose and 1688 shares fell. A total of 136 shares were unchanged. Globally, Asian shares hovered near two-month highs on Friday, holding recent gains as investors awaited US employment data, a key release that could make or break market expectations about aggressive policy easing by the Federal Reserve. The MSCI's broadest index of Asia-Pacific shares outside Japan was set for its fifth straight weekly rise. World stocks and bonds have rallied since June, on hopes that global central banks will keep policy easy, to support growth.

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