Sensex Plunges 2800 Points After Budget Announcements, Nifty Below 24600
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Moneycontrol•01-02-2026, 13:19
Sensex Plunges 2800 Points After Budget Announcements, Nifty Below 24600
- •Sensex dropped over 2,800 points from its intra-day high, Nifty slipped below 24,600 after Budget announcements.
- •Union Finance Minister Nirmala Sitharaman increased Securities Transaction Tax (STT) on futures from 0.02% to 0.05% and on options from 0.1% to 0.15%.
- •29 Sensex stocks and 45 Nifty stocks ended in the red, with midcap and smallcap segments facing more selling pressure.
- •PSU Bank and Metal sectors saw declines of over 3%, while Auto, FMCG, Realty, and Oil & Gas fell over 1%.
- •New tax treatment for earnings from share buybacks, now under Capital Gains Tax, also contributed to market pressure.
Why It Matters: Increased STT on futures and options, along with changes to share buyback tax, caused a significant market crash.
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