Indian markets crashed about 2 per cent today as Finance Minister Nirmala Sitharaman’s Budget proposal to hike transaction tax on stocks spooked investors. The crash wiped out nearly Rs 10 lakh crore of investor wealth.
The 30-pack BSE Sensex ended below 80,000, diving 1,546.84 points (1.88%), in a market gripped by extreme volatility. NSE’s Nifty50 settled below 25,000, losing 495 points (1.96%), with both indices marking their worst budget day in six years.
On the BSE, a total of 2,375 stocks declined while 1,759 posted gains, and 175 remained unchanged. State Bank of India, Bharat Electronics, ITC, Tata Steel, UltraTech Cement, and Reliance Industries were among the major laggards in the Sensex pack, while TCS, Infosys, and Sun Pharma were among the few gainers.
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