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Sensex, Nifty Slide After FinMin Sitharaman's Initial Stimulus Fails to Excite

Image for representation. (Image: Reuters)

Image for representation. (Image: Reuters)

The NSE Nifty 50 index fell 1.45% to 9247.35 by 0400 GMT, while the S&P BSE Sensex was 1.51% lower at 31,522.01.

  • Reuters Bengaluru
  • Last Updated: May 14, 2020, 10:23 AM IST
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Indian shares fell on Thursday after the government's stimulus package for small businesses battered by the coronavirus pandemic was poorly received by investors.

The NSE Nifty 50 index fell 1.45% to 9247.35 by 0400 GMT, while the S&P BSE Sensex was 1.51% lower at 31,522.01.

The Centre said on Wednesday it would offer nearly $60 billion of loan guarantees for small businesses, shadow banks and power companies, as part of a 20-trillion-rupee ($266 billion) fiscal and monetary package.

Other Asian stock markets also fell as worries about a second wave of coronavirus infections and a dour warning from the head of the U.S. Federal Reserve dashed hopes for a quick recovery.


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