Indian shares ended on Friday, after government economic package information did not reassure investors who are already worried about increasing coronavirus cases and low returns.
The S&P BSE Sensex was 0.08% lower at 9,136.84 and the NSE Nifty 50 index fell to 31,097.73, respectively. Earlier on Friday, both indices had decreased to as much as 1%. This week the Nifty 50 ended 1.24% lower, its second weekly decline.
India has introduced a series of economic initiatives as part of a tax and monetary package of 20 trillion dollars (265 billion pounds), but announcements over the past two days-including small business credit guarantee and staff free food-have slipped.
Analysts have noted that the measures reflect minimal fiscal spending and that, although they provide liquidity for businesses and employees, steps would do little to increase demand and improve the economy in the short term.
Finance Minister Nirmala Sitharaman will outline her third media briefing in as many days at 1600 local time on Friday, during a media conference (1030 GMT).
Due to the COVID-19 crisis, the bank index of Nifty, particularly volatile in recent days, decreased 1.2 per cent. The Nifty 50 was the top three private-sector Indian banks – ICICI, Axis, and HDFC Money.