Indian shares decline after budget rally
Picture used for illustrative purpose. File
Gulf Today Report
Indian shares decline on Thursday as financial stocks retreated after the three-day post-budget rally, focus is also on central bank’s monetary decision due on Friday.
The NSE Nifty 50 index fell 0.25% to 14,753.10 by 04:55 GMT, while the benchmark S&P BSE Sensex was down 0.34% at 50,084.71.
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Anand James, chief market strategist at Geojit Financial Services in Kochi said: "With the budget behind us... and even though rates are expected to be held, there is an eye on some announcements coming up in the monetary policy committee meeting and that is partly why markets are cautious."
Bank stocks led the drag of the Nifty 50, with HDFC Bank falling by 2%. In individual shares and sectors, Reliance Industries recorded a 0.9% decline.
