Sensex and Nifty tumble as FM raises STT on F&O
Sensex and Nifty tanked after Finance Minister Nirmala Sitharaman announced a hike in STT (Securities Transaction Tax) on F&O (Futures and Options) securities.
The 30-share BSE Sensex jumped as soon as Nirmala Sitharaman began presenting the Budget for 2024-25. But, within minutes, it slipped in the red and later dropped 1,266.17 points to 79,235.91 during the afternoon trade.
The NSE Nifty also ticked higher as the Finance Minister began the presentation. However, volatile trends soon came in and the benchmark later tanked 435.05 points to 24,074.20.
The Sensex and Nifty plummeted dramatically after Finance Minister Nirmala Sitharaman announced a rise in STT (instruments Transaction Tax) for futures and options (F&O) instruments.
The 30-share BSE Sensex rose as Nirmala Sitharaman started delivering the Budget for 2024-25. However, it rapidly went into the red, sliding 1,266.17 points to 79,235.91 in afternoon trade.
The NSE Nifty climbed as the Finance Minister began his presentation. However, volatility patterns rapidly appeared, with the benchmark dropping 435.05 points to 24,074.20.
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