Sensex slumps 460 points post Budget presentation

The Union Budget 2019-20 failed to cheer the equity market as the BSE Sensex slumped over 460 points minutes after Finance Minister Nirmala Sitharaman concluded her speech.

At 1.28 p.m., the Sensex fell 466 points to the day's low of 39,441.38, from the previous close of 39,908.06 points.

Although the market opened on a positive note, the downtrend began within half an hour of Sitharaman's speech as she presented her first budget and trade remained largely choppy throughout the two hours 15 minutes speech.

Sensex has, however, trimmed some losses and at 1.44 p.m. was trading at 39,632.85, lower by 275.21 points or 0.69 per cent from its previous close.

The Nifty50 on the National Stock Exchange traded at 11,849.40, lower by 97.35 points or 0.81 per cent from the previous close.

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