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Almost Rs 10 Lakh Crore Lost Ahead of Budget as Markets Register Continuous Fall
In 2019, Finance Minister Nirmala Sitharaman ditched the colonial legacy of a Budget Briefcase for a Bahi-Khata to carry Union Budget Papers. Photo: PTI
Last week, BSE Sensex slipped 2,592.77 points or 5.3 percent to end at 46,285.77 and while the Nifty50 fell 737.3 points or 5 percent to finish at 13,634.60 levels.
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The market witnessed continuous selling throughout the truncated week ended January 29 amid volatility due to monthly expiry, FII selling, and weak global markets. Meanwhile, market participants also booked profit ahead of the Union Budget to be presented on February 1.
IndusInd Bank, Vedanta, UPL, SAIL, LIC Housing and Siemens are among major companies which will announce their December quarter results today.
IRFC: Shares of IRFC will list on stock exchanges today. The IPO, which was sold in Rs 25-26 per price band, was subscribed 3.49 times. The unlisted stock last traded at a grey market premium of Re 0.20-0.25 against Rs 1.5 earlier.
Airtel, Vodafone Idea:
Bharti Airtel added the highest number of subscribers in November, ahead of Reliance Jio, even as Vodafone Idea lost customers during the period, according to the latest TRAI data. Airtel added a staggering 43.7 lakh subscribers while Vodafone Idea lost 28.9 lakh subscribers.
Read more about Stocks to watch: IRFC, Tata Motors, IRCTC, TVS Motors, IndiGo, Airtel on Business Standard. InterGlobe Aviation reported a net loss of Rs 620 crore in the third quarter of pandemic-struck 2020-21 financial year
Benchmark indices hit fresh intraday low in afternoon trade. Investors remained cautious ahead of the Union Budget on Monday. At 13:20 IST, the barometer index, the S&P BSE Sensex, tumbled 134.43 points or 0.29% at 46,739.93. The Nifty 50 index lost 36.90 points or 0.27% at 13,780.65.
The broader market traded higher. The S&P BSE Mid-Cap index rose 0.35%. The S&P BSE Small-Cap index gained 0.13%.
The market breadth was positive. On the BSE, 1,563 shares rose and 1,167 shares fell. A total of 141 shares were unchanged. In Nifty 50 index, 17 stocks advanced while 33 stocks declined.
Foreign portfolio investors (FPIs) sold shares worth Rs 3,712.51 crore, while domestic institutional investors (DIIs), were net buyers to the tune of Rs 1,736.92 crore in the Indian equity market on 28 January 2021, provisional data showed.
Read more about NBFC shares in focus; Bajaj twins, Cholamandalam Investment surge up to 9% on Business Standard. L&T Finance, Indiabulls Housing Finance, IIFL Finance, REC, Shriram Transport Finance, Power Finance Corporation, LIC Housing and HDFC were up between 3 per cent and 9 per cent on the BSE