BSE Sensex and Nifty 50 ended lower for the third consecutive day on Monday as economic package announcements over the weekend failed to boost investor sentiment. BSE Sensex tanked 1.027 points or 3.31 per cent to end the session at 30,070, while the Nifty 50 index dropped 314 points or 3.43 per cent to close the session at 8,823. The decline in equity markets was led by bank stocks as the government said that no fresh insolvency proceeding will be initiated for up to one year. “With the stimulus package announced by the government, not seen as adequate considering the need of the hour and with infections continuing unabated, the markets ended down by around 3.4%. Most measures may be seen as a long-term positive and markets were more worried about the immediate impact of these measures.
Nifty50 closed lower at 8823.25 level, -313.60 points, or -3.43 per cent. Nifty Support : 8750 and 8650 Resistance : 8950 and 9050.
