STT shock jolts markets, sensex spirals to worst Budget Day loss in points

The peculiar Budget-day trading league connected Sunday proved a achy 1 for the markets, which were near shell-shocked by the hike successful Securities Transaction Tax (STT) connected derivatives.

This led to a crisp sell-off that pulled the sensex down by implicit 1,500 points — its biggest points nonaccomplishment connected a Budget time — to adjacent astatine 80,723 points. It besides near investors poorer by Rs 9.4 lakh crore, the biggest Budget-day nonaccomplishment successful BSE’s marketplace capitalisation.

The day’s trading was marked by precocious volatility. The sensex rallied implicit 400 points arsenic FM started her speech, fell astir 1,100 points aft the STT hike connection was announced, partially recovered by mid-session to commercialized 600 points down connected the time and past dropped again to adjacent beneath the 81k people for the archetypal clip successful 4 months.On the NSE, Nifty excessively treaded a akin way to adjacent 495 points (2%) little astatine 24,825 points.