At the closing bell of the day trade on Tuesday, benchmark indices changed marginally, a day after Sensex plunged heavily on Monday.
BSE’s Sensex gained 10.25 points to settle at 38730.82 points and Nifty of the National Stock Exchange (NSE) fell merely 2.70 points closing at 11555.90.
Bajaj Finance registered its biggest gain in over eight months, gaining a whopping 188.60, a change of more than 5 per cent.
Earlier in the day, the BSE Sensex opened at 38,468.75 points, a 252 points fall, while the Nifty 50 fell 38.80 points to open below 11,500 points, a 0.69 percent drop.
Tuesday’s weak stock change comes a day after markets took a heavy beating Monday with the benchmark BSE Sensex crashing 793 points, or two per cent, its biggest single-day loss in 2019 so far.
The loss was speculated as a combination of referendum to Union Budget proposals, presented last week and US job gains where a large rate cut was expected from Federal Reserve.
Budget’s proposal of taxing the super-rich along with a hike in public shareholding in listed companies had disappointed domestic investors, reports suggest.
As reported earlier, markets last week witnessed heavy selling in metal, power, auto and IT sectors after the budget proposal of raising public stockholding allegedly raised concerns about liquidity in the market.