Before the GST Council meeting, Finance Minister Nirmala Sitharaman made some big announcements. The Union Minister spoke of reducing corporate tax while giving relief to the company and the businessmen. With the announcement of the central government, the stock market saw a gain of 1800 points, and the Nifty strengthened by 500 points.
– At 12 o'clock in the afternoon, the Sensex rose by 1790 to the level of 37,885. Similarly, the Nifty climbed 515 points and touched the level of 11 thousand 220. During this time, all the shares of SENSEX were seen trading with an increase. Maruti was the top gainer in the stock. Maruti's stock has gained more than 10 percent.
– At 11.30 in the morning, the SENSEX was seen trading at a level of 37 thousand 400 points. Similarly, the Nifty fell to the level of 11,100. A few minutes later, the SENSEX recorded a rise of over 1800 points. The Nifty also saw an increase of over 500 points.
– Earlier, during the press conference of Nirmala Sitharaman, the Sensex saw an increase of over 1300 points. At the same time, the Nifty climbed over 350 points.
At the same time, the Governor of Reserve Bank of India, Shaktikanta Das, has called this decision of the government as a bold step in the India Today program. In India Today Conclave 2019, Shaktikanta Das said that this would benefit the corporate. Companies will benefit from these discounts. This will bring foreign investment. This is a tough decision. People will benefit from this.
Let us tell you that an important meeting of the Goods and Services Tax (GST) Council is going to take place in Goa. Biscuits, matches and hotel industry can get relief in this meeting, but the auto sector is finding it difficult to get relief. Even after this meeting, one can get a wonderful look in the market.
1.69 lakh crores of investors drowned on Thursday
Earlier on Thursday, there was a huge sell-off in the shares of banks and energy companies. Due to this, the Sensex ended at a loss of 470 points or 1.29 per cent at the end of trading at 36,093.47. During trading it once went up to 35,987.80 points in the low and 36,613.93 points in the high.
Similarly, the Nifty closed at 10,704.80 points, down 135.85 points or 1.25 per cent. This is its seven-month low. Earlier, the Nifty closed at 10,604.35 on February 19, 2019.
Due to this stampede in the market, 1.69 lakh crore rupees of investors were drowned. In fact, on Wednesday, the market cap of the total companies listed on BSE was Rs 1,40,19,877.32 crore, which has now increased to Rs 1,38,50,541.85 crore. In this sense, the market cap has decreased by Rs 1.69 lakh crore. This is a big setback for investors.
