- After 20 Lakh Crore Package Sensex bounced back and open with a positive mark
- The impact of the announcement of the package was clearly visible in the stock market.
- All sectors in Sensex opened on the green mark for BSE and NSE today
- The global stock markets decline on Tuesday even after stimulus announcement in India
After 20 Lakh Crore Package Sensex bunched back in India
After 20 Lakh Crore Package Sensex bunched back in India. Last night the Prime Minister Narendra Modi announced a special package to boost the economy. This announcement surge the stock market and most of the sectors open with green marks.
The Bombay Stock Exchange gained 3.48 per cent to 1093.17 points and open at 32464.29. At the same time, the National Stock Exchange’s Nifty opened at 9512.40, up with 315.85 points, and a gain of 3.43 per cent.
20 lakh crore package announced to boost economy last night
PM Modi said, amidst the Corona crisis, I announce a special economic package. This package will serve as an important link to the self-reliant India campaign. Last night Prime Minister Narendra Modi announced economy stimulus of Rs 20 Lakh crore.
This package is about 10 per cent of India’s GDP. The further details of the package will be given by Finance Minister Nirmala Sitharaman today at PM.
Also Read: Another big stimulus package for bleeding economy in India soon
While announcing Modi said that the various sections of the country will get a support of Rs 20 lakh crore. This package of 20 lakh crores will give a new impetus to the country’s development journey in 2020. Land, labour, liquidity have all been emphasized in this package to fulfil the resolve of self-reliant India.
State of global stock markets after 20 Lakh Crore Package announcement in India
There was a declining trend in the global stock market on Tuesday. The US market Dow Jones was down 457.21 points at the rate of 1.89 per cent. The Nasdaq closed down 189.79 points at 9,002.55, down 2.06 per cent.
The S&P was down 2.05 per cent to close at 608 points at 2,870.12. China’s Shanghai Composite stock exchange was down 5.26 points at 2,886.30, down 0.18 per cent. Also, markets in France and Germany closed at a downtrend. However, the Italian market saw a boom in the meantime.
Sectoral index-tracking after Narendra Modi Package Announcement
If we look at the sectoral index, then all the sectors opened on the green mark today. These include IT, Pharma, Realty, Auto, FMCG, Banks, Private Banks, Media, Metal, and PSU Banks.
The stock market was on edge during the pre-open. At 9.11 am, the Sensex was at a level of 32841.87 after gaining 1470.75 points, or 4.69 per cent. The Nifty was at the level of 9584.20 after gaining 387.65 points, or 4.22 per cent.
The market was opened on the red mark on the last trading day
The stock market started on the red mark on the previous trading day. The Sensex was down 374.31 points to open at 31186.91, down 1.19 per cent. The Nifty was down 102.50 points at 9136.70, down 1.11 per cent.
The market was closed on Tuesday with the declining trend
The stock market closed on Tuesday after a day’s ups and downs. The Sensex ended 190.10 points, or 0.60 per cent, down at 31371.12. At the same time, the Nifty closed at 9196.55, down 42.65 points, or 0.46 per cent.
