Indian Stock Markets Plunge as Budget 2026 Proposes STT Hike
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On February 1, 2026, the Indian stock markets experienced a significant decline following the Union Budget's proposal to increase the Securities Transaction Tax (STT) on futures contracts from 0.02% to 0.05%. The BSE Sensex fell over 1,500 points, and the NSE Nifty 50 dropped below 24,900, as investors reacted negatively to the increased transaction costs. This marked the largest Budget Day fall in six years, with market capitalization eroding by approximately ₹11 lakh crore.
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Key Entities
- • - Finance Minister Nirmala Sitharaman - Presented the Union Budget 2026 proposing the STT hike.
- • - Securities Transaction Tax (STT) - A tax on securities transactions, increased in the latest budget.
Bias Distribution
Source & Verification
Status: Confirmed
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