Govt package fails to lift market sentiment, Sensex slips below 31000 points, Nifty below 9100

Mumbai:  The government’s mega economic package has failed to lift investors sentiment as the indices opened lower on Friday.

At 09:16 am, the BSE Sensex opened with a drop of 115.98 points or 0.37% at 31006.91, and the Nifty plunged 32.00 points or 0.35% at 9110.75. About 477 shares have advanced, 192 shares declined, and 40 shares are unchanged.

The Sensex was at   30,873.44 points, down by  249.45  points or 0.80  % and Nifty at  9086.15  points, down by 56.60   points of 0.62 % at 10 am IST.

The Finance Minister Nirmala Sitharaman announced several schemes for the benefit of Migrant workers, Small and marginal farmers, Street Vendors, people in the middle-income group and the tribals.

Keeping in view the troubles being faced by the tribal workers the FM has announced free foodgrains for 2 months, one-nation-one ration card’ scheme, through which PDS beneficiaries can avail food grains irrespective of the state and affordable rented accommodation schemes.

On Wednesday, Sitharaman had announced several schemes for the MSME sector including Rs. 3 lakh crore collateral-free loans.

She had also announced a Rs.90,000 Cr scheme to inject liquidity in the Discoms.