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Finance Minister Nirmala Sitharaman presented her seventh budget today i.e. on 23 July. Meanwhile, when there was a big decline in the stock market, now today the Indian stock market has closed with a decline. In today's trading session, the BSE Sensex closed down 73.04 points at 80,429, while the Nifty closed down 30.20 points at 24,479.
Sensex and Nifty fell
After the budget announcement, both the major stock market indexes Sensex and Nifty saw a big decline. The benchmark Sensex of the Bombay Stock Exchange fell by about 1,200 points to 79,224.32. However, the Sensex opened at 80,724.30 points. At the same time, Nifty is also seeing a decline of about one percent. Nifty was trading 232.65 points down at 24,276.60 points. However, Nifty opened at 24,568.90 points.
Reliance shares fell
The Finance Minister has started reading the budget and on the other hand the stock market and the shares of the country's major companies have started falling. Yes, before the budget announcement, Mukesh Ambani's Reliance Industries has suffered a loss of more than Rs 19,000 crore. Sensex falls for the second consecutive day. The company's shares are trading below Rs 3000. According to experts, a big fall can be seen in the shares of Reliance Industries on Monday. A day earlier, Reliance shares closed with a decline of three and a half percent and the company's valuation saw a decrease of more than Rs 73 thousand crore.
Adani Power shares rose nearly 4 percent
Adani Power shares are up nearly 4 percent, Adani Green Energy is up more than 2 percent, while Adani Ports is up 1 percent. While IRFC shares rose 1 percent, IREDA shares rose 2 percent and RVNL shares rose 1 percent. Finance Minister Nirmala Sitharaman is giving the budget speech. Greenery is visible in the stock market once again.
It was the turn of investors to get drenched overnight
Due to this fall in the stock market, investors have suffered a loss of about Rs 10 lakh crore in a few hours. The loss and profit of investors is linked to the market cap of BSE. A day earlier, the market cap of BSE was Rs 100. Which fell to Rs 4,48,32,227.50 crore during the trading session from Rs 4,38,36,540.32 crore. That is, investors have suffered a loss of about Rs 10 lakh crore. Currently, the market cap of BSE is seen at Rs 4,43,28,902.63 crore.