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Stock impact report

Sensex, Nifty hammered as stimulus details fail to excite [Reuters]

Infosys Limited American Depositary Shares (INFY) 
Last infosys limited american depositary shares earnings: 4/21 04:00 pm Check Earnings Report
US:NASDAQ Investor Relations: infosys.com/investors
Company Research Source: Reuters
Sensex, Nifty hammered as stimulus details fail to excite BENGALURU (Reuters) - Indian shares tumbled on Thursday after a poorly received initial stimulus from the government to aid coronavirus-hit businesses, while a gloomy outlook from the head of the U.S. Federal Reserve further weakened sentiment. India’s blue-chip NSE Nifty 50 index erased its 2% gain from Wednesday, when markets cheered an announcement from Prime Minister Narendra Modi of a 20-trillion-rupee ($266 billion) economic stimulus. But the initial details of the plan, which includes nearly $60 billion of loan guarantees for small businesses, shadow banks and power companies, failed to excite investors who were expecting more. Economists said that although the measures outlined amounted to policy support of 5.9 trillion rupees, the fiscal impact on the government’s budget would be less than 250 billion rupees. “People were carried away by the hype created by the PM,” said Deepak Jasani, head of retail research at HDFC S Show less Read more
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