Prior to the press conference of Finance Minister Nirmala Sitharaman, the leading stock index Sensex lost over 200 points during early trading on Thursday due to the fall in financial stocks.
During this period, the BSE Sensex was trading 226.79 points, or 0.52 percent, at 43,366.88, based on 30 shares.
Similarly, the NSE Nifty slipped 60 points or 0.47 percent to 12,689.15 points.
IndusInd Bank fell the most by three percent in the Sensex. Apart from this, shares of HDFC, HDFC Bank, Kotak Bank, SBI, Axis Bank, and ICICI Bank were also in the red mark.
On the other hand, M&M, Sun Pharma, Infosys, HUL, and Nestle India were trading with gains.
In the previous session, the Sensex had gained 316.02 points, or 0.73 percent, to close at 43,593.67 points, while the Nifty closed at a record level of 12,749.15 with a gain of 118.05 points or 0.93 percent.
Foreign institutional investors remained net buyers in the capital market and according to provisional data of the stock market, they bought shares worth Rs 6,207.19 crore on Wednesday. Arjun Yash Mahajan, head of institutional business at Reliance Securities, said the market was expected to stagnate at this level.
He further said that the market sentiment could be strengthened due to the expectation of additional fiscal stimulus by the government. Finance Minister Nirmala Sitharaman is scheduled to address the media on Thursday.