Business

Markets snap 8-session winning run despite new stimulus steps

PTI

The Sensex and Nifty snapped their eight-session rising streak on Thursday as the new set of stimulus measures announced by the finance minister failed to stem profit-booking in banking, IT and energy stocks.   Lacklustre global cues and a weakening rupee further weighed on sentiment, traders said. After dropping 466.12 points during the day, the 30-share BSE Sensex ended 236.48 points or 0.54% lower at 43,357.19. Similarly, the broader NSE Nifty slipped 58.35 points or 0.46% to 12,690.80.SBI was the top loser in the Sensex pack, shedding 3.16%, followed by Kotak Bank, IndusInd Bank, NTPC, ICICI Bank, Axis Bank, HDFC Bank and ONGC.On the other hand, HUL, ITC, L&T, Bajaj Finserv, Tech Mahindra and Bajaj Finance ended with gains of up to 2.89 %.  FM Nirmala Sitharaman on Thursday announced tax relief on select home sale deals, enhanced credit guarantee programme for small businesses and provide incentives for new job creation as the Govt widened stimulus measures to boost the economy.