Stock Markets on 2nd February started well but soon dropped down. Union Budget has been floored by Finance Minister of India, Nirmala Sitharaman at Parliament on 1st February. Stock Markets showed great enthusiasm in the opening hours but mid-session they started falling down. Adani stocks losing value by 20 – 25% and International Stock Markets not performing up to expectations have resulted in mixed trading on Thursday, too. By the end of the trading session, BSE gained 224.16 points to close at 59,932.24 and Nifty lost 5.90 points to close at 17,610.40 mark.
BSE Sensex of Stock Markets started trading at 59,459.87 mark and then continued to trade between 59,215.62 to 60,007.67 range. Finally, BSE ended the trading session at 59,932.24 by gaining 224.16 points. Nifty Sensex of Stock Markets started trading at 17,517.10 mark and it hit highest for the day at 17,653.90. Nifty hit the lowest at 17,445.95. It rose to new heights in first hour and then traded throughout the day by touching highs and lows. It ended at 17,610.40 by losing 5.90 points.
Indian Rupee traded at Rs.81.17 against US Dollar on Thursday. Adani Enterprises has lost up to 27% of stock value and them removing FPO has also resulted in such low trading. Credit Suisse also deemed no value for Adani Brands and this resulted in major negative reaction from traders to Adani stocks. On the whole, Blood Bath for Adani Stocks has resulted in Stock Markets putting up such mixed numbers.
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