Why markets fell around 3% today despite liquidity boost for NBFCs, MSMEs

On the sectoral front, barring FMCG and pharma, all the indices on the NSE traded weak. Global cues, too, dented sentiment

Equity market came under heavy selling pressure on Thursday even after the Union Finance Minister Nirmala Sitharaman Wednesday announced a set of stimulus measures of nearly Rs 5.94 trillion to support micro, small, and medium enterprises (MSMEs), non-banking financial companies (NBFCs), and power distribution companies. 

The S&P BSE Sensex tanked as much as 956 points or 3 per cent during the day while NSE's Nifty slipped 264 points or 2.8 per cent. At the close, the S&P BSE Sensex stood at 31,123, down 886 points or 2.8 per cent while Nifty ended at 9,143, down 241 points or 2.57 per cent.