Budget Day Bloodbath: Sensex Plunges 1,575 Points, Nifty Down 2% as Key Stocks Tumble
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Moneycontrol•01-02-2026, 12:45
Budget Day Bloodbath: Sensex Plunges 1,575 Points, Nifty Down 2% as Key Stocks Tumble
- •Indian equity benchmarks Sensex and Nifty saw significant declines after Finance Minister Nirmala Sitharaman's Union Budget 2026 speech.
- •Sensex dropped 1,575.2 points (1.9%) to 80,694.6, while Nifty fell 521.9 points (2.1%) to 24,798.8 by 12:32 pm.
- •Bharat Electronics (10% down) and State Bank of India (8% down) were among the top losers, alongside other PSU, metal, financial, and consumer stocks.
- •The market reacted cautiously to higher borrowing numbers, a slightly above-expected fiscal deficit (4.3% for FY27), and proposed changes to market-related taxes like share buyback taxation and increased STT on futures.
- •Only a few healthcare stocks like Max Healthcare Institute, Sun Pharmaceutical Industries, and Dr Reddy’s Laboratories saw marginal gains amidst widespread losses.
Why It Matters: Budget 2026 announcements led to a sharp market downturn, with Sensex and Nifty plunging on fiscal concerns.
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