03 February, New Delhi
The Secretary, Department of Economic Affairs, Subhash Chandra Garg, on Saturday assured that markets would return to normal soon.
“It is wrong to say that there is sharp fall (in Sensex). There was a correction of 800 points or something. After coming of long-term capital gains, some impact had to come. Soon, the markets will revert to its fundamental aspects. I think normalcy will soon return,” Garg told ANI.
Markets continued to crumble under pressure on Friday’s closing trade as Nifty, Sensex triggered volumes. While the Sensex dipped by 886.38 points to 35,026.40, Nifty declined by 241 points to 10,775.90.
Apart from IT, all sectoral indices were trading in red, and the Nifty Realty index fell by six percent.
Meanwhile, market expert Sunil Shah stated that the plunge was testament to the fact that the market did not accept the Union Budget 2018-19, which was presented on Thursday.