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Atmanirbhar Bharat 3.0 Fails To Enthuse Markets; Nifty Snaps Eight Days Rally
Indian benchmark indices did not take the government's stimulus measures announced as part of Atmanirbhar Bharat 3.0 in good spirits and snapped eight-consecutive days of gains. At the close, Nifty was down 0.46% or 58 points at 12690.8, while Sensex settled at 43357.19, down 0.54 percent.
Among the stocks that were outliers in otherwise weak trade have been Grasim, HUL, Shree Cements, Hindalco and ITC. While the losers in trade today are stocks primarily from the banking space including SBI, IndusInd Bank, Kotak Mahindra, Coal India and NTPC.
On the fertiliser subsidy announced worth Rs. 65000 crore, fertilizer stocks got a push in their stock price.
Realty index also got a boost as the govt. extended incentive to middle class for buying homes. Nifty Realty at the later part of the trade was up almost 0.8 percent, with major gains on the IndiaBulls Realty, Oberoi Realty, Prestige Estate and Godrej Properties.
Meanwhile, European markets were also trading in the red and US stock futures pointed to negative opening for the US markets, with major drag on the Dow Stock futures of 0.62 percent.
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