Budget 2026 Market Crash: Sensex Plunges 1547 Points as STT Hike Rattles Investors
Frequently Asked Questions
The market crashed primarily due to the surprise announcement of a hike in the Securities Transaction Tax (STT) on futures and options trading, along with concerns over a high government borrowing target of 17.2 lakh crore.
The STT on futures has been increased from 0.02% to 0.05%, and the tax on options premiums has been raised from 0.1% to 0.15%.
The Nifty IT index was the only sectoral index to end in the green, supported by gains in major stocks like Wipro, TCS, and Infosys.
The government has proposed a capital expenditure of 12.2 lakh crore for the financial year 2026-27, focusing on infrastructure and manufacturing.
Precious metals saw a sharp decline, with silver crashing by nearly 9% and gold falling by 3% on the MCX due to global cues and a stronger US dollar.
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