Stock markets fall sharply as stimulus package fails to lift sentiment

The benchmark indices fell nearly 3% on Thursday, erasing all the gains made a day earlier on optimism over the Rs 20-trillion rescue package announced by the government

Stock markets fell sharply on Thursday, with the economic rescue package announced by the government doing little to boost sentiment, dented by selling in the global markets.

The benchmark indices fell nearly 3 per cent on Thursday, erasing all the gains made a day earlier on optimism over the Rs 20-trillion rescue package announced by the government, as experts voiced concerns that it won’t be enough to revive the weakened economy as there was little to boost demand and more that focussed on boosting liquidity.

The Sensex closed at 31,123 points, down by 886 points, or 2.8 per cent, while