Sensex and Nifty closed in the red, snapping their 8-day rally.
Share Bazaar News Today | Sensex, Nifty, Share Prices Highlights: Sensex and Nifty snapped their eight-day rally on Thursday and ended in the red. S&P BSE Sensex closed 43,357 points and NSE Nifty 50 ended at 12,690. Financials were pulling indices lower with SBI slipping 3% and Kotak Mahindra Bank, IndusInd Bank, and ICICI Bank closed down 2% each. Among the top gainers were HUL, ITC, and L&T. Midcap and smallcap indices closed higher in the red, outperforming the benchmark indices. India VIX was down over 6% on Thursday.
Marching on the mission of making in India, the Prime Minister Narendra Modi-led Union Cabinet on Wednesday announced Rs 2 lakh crore of production linked incentives for 10 major manufacturing sectors. The government is looking to replicate the success it garnered from the PLI scheme for the mobile phone manufacturing sector. The ten select areas are Advance Chemistry Cell Battery; Electronic/Technology Products; Automobiles & Auto Components; Pharmaceuticals drugs; Telecom & Networking Products; Textile Products; Food Products; High-Efficiency Solar PV Modules; White Goods (ACs & LED); and Speciality Steel.