February 3, 2020 / 3:36 AM / 14 days ago

Indian shares seen opening lower on lack of stimulus measures in budget

BENGALURU, Feb 3 (Reuters) - Indian shares were likely to open lower on Monday, after a sharp fall on Saturday, which analysts attributed to lack of sufficient stimulus measures in the federal budget to revive growth in Asia’s third biggest economy.

The SGX Nifty fell 2.47% by 0325 GMT, indicating a negative opening for Indian stock markets.

Finance Minister Nirmala Sitharaman sought to boost growth in the federal budget on Saturday that raised spending on farms and expressways and offered cuts in personal taxes, but the measures failed to address concerns of lower consumer spending and investment.

Shares fell during a special trading session on that day to their lowest closing level in more than three months. (Reporting by Derek Francis in Bengaluru; editing by Uttaresh.V)

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