The BSE Sensex ended 169.56 points lower at 36,025.54 on Friday while NSE benchmark index Nifty closed at 10,780.55, down 69.25 as weak earnings and caution ahead of interim budget next week hurt the investor sentiment.
Thirty two out of 50 stocks closed in the negative zone.
Meanwhile the Prime Minister’s Economic Advisory Council said it is against the government deviating from its fiscal consolidation target. This come amidst reports that the government is also likely to introduce the concept of Universal Basic Income in the interim Budget on February 1.
A meeting of the Bibek Debroy-led panel was held on Friday. The six-member Council consists of eminent economists: Bibek Debroy (chairman), Ratan P Watal (member secretary), Rathin Roy (part-time member), Ashima Goyal (part-time member) and Shamika Ravi (part-time member). Economist Surjit Bhalla resigned from the Council last month.