Mumbai, Aug 20 (IANS) The Sensex and Nifty fell after initial gains on Tuesday awaiting a stimulus package from the government.
According to reports, the Union government is working on a stimulus package to revive economic growth.
At 10.18 a.m., the Sensex was down 104.36 points or 0.28 per cent to 37,298.13.
The benchmark index opened at 37,441.75, slightly higher from its previous close of 37,402.49.
The broader Nifty was trading 48.05 points lower at 11,005.85.
Asian markets however, gained over hopes of a stimulus by governments to temper anxiety about a global recession.
Meanwhile, Foreign Institutional Investors sold stocks worth Rs 305 crore while domestic investors bought scrips of Rs 386 crore value.
About Gopi
Gopi Adusumilli is a Programmer. He is the editor of SocialNews.XYZ and President of AGK Fire Inc.
He enjoys designing websites, developing mobile applications and publishing news articles on current events from various authenticated news sources.
When it comes to writing he likes to write about current world politics and Indian Movies. His future plans include developing SocialNews.XYZ into a News website that has no bias or judgment towards any.
He can be reached at gopi@socialnews.xyz