The Budget Day trading session on Sunday proved to be a painful one for the markets, which were badly shocked by the rise in securities transaction tax (STT) on financial derivatives.
This triggered a sharp sell-off that saw the Sensex fall more than 1,500 points – the biggest point loss on a Budget day – to close at 80,723 points. It also left investors poorer by Rs 9.4 lakh crore, the biggest Budget Day loss in market capitalization of the BSE.
Sensex suffers worst B-Day loss in terms of points
Today’s trading was characterized by high volatility. The Sensex rose over 400 points when the FM began her speech, fell around 1,100 points after the STT rate hike proposal was announced, partially rebounded by mid-session to trade 600 points lower during the day and then fell again to close below the 81K mark for the first time in four months.
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On the NSE, Nifty also followed a similar path to close 495 points (2%) lower at 24,825 points.
