Nifty Settles Below 12000 Even After FM Doles Out Rs. 73K Cr Demand Booster Package

Even as the FM today announced a Rs. 73000 crore demand booster package, Nifty ended higher for the eight consecutive day but off day's high. At one point in time, Nifty was at 12022 but at the close was dragged to 11931 , Similarly Sensex too lost ground and wiped most of gains to settle at 40593 points.

Among top Nifty gainers were stocks including ITC, Infosys, Power Grid, UPL and Hindalco and Nifty losers included stocks such as JSW Steel, Tata Motors, HDFC Life, Gail and SBI Life Insurance.

Wipro which is set to announce its quarterly numbers for second quarter ended marginally higher by 1.26 percent after hitting fresh high during the day of Rs. 379.65.

Nifty Bank which also gained over 1% at the start owing to request to the Court of allowing to categorise loan accounts as NPA also turned weak and was last down 0.6 percent. Top drags from the pack were stocks like HDFC Bank, Bank of Baroda, Kotak Mahindra Bank etc.

Also European markets were trading in the green with German DAX and French CAC, up 0.19 and 0.34 percent, respectively. Meanwhile China blue-chip index loggest best gains in 3 months, while the Shanghai Composite index also gained to its highest level since July 2020.

Japan stocks however ended lower as the market participants awaited earnings results.

Given the volatility in stock indices today, rupee also logged its first drop in four trading days and ended at 73.27 per US dollar as against day's high of 73.03.

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