A day after Budget, Sensex crashes 840 points, Nifty below 10,800

This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.

Published: 02nd February 2018 04:14 PM  |   Last Updated: 02nd February 2018 05:45 PM   |  A+A-

A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, India. (Photo | Reuters)


MUMBAI: Benchmark Sensex plummeted 840 points today, its biggest single-day fall in two-and-a-half years, while the NSE Nifty ended below the 10,800-mark as the post-Budget sell-off continued for the second straight day.

The Budget 2018-19 presented yesterday imposed long-term capital gains tax of 10 per cent on equities.

Investors will also have to pay 10 per cent tax on distributed income from equity-oriented mutual funds.

Market mood suffered another setback after Fitch Ratings today said high debt burden of the government constrains India's rating upgrade.

The flagship Sensex crashed 839.91 points, or 2.34 per cent to end the day at 35,066.75 as jittery investors sold off shares across all sectors.

This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.

The broader NSE Nifty cracked below the 10,800-mark by tanking 256.30 points, or 2.33 per cent, to 10,760.60 at close. Intra-day, it hit a low of 10,736.10.

READ HERE | Bajaj Auto Q3 profit rises three percent

ALSO READ | Hindalco Industries Q3 net profit rises 18 per cent to Rs 377 crore

Coal India April-January output at 440 million tonnes, trails target

Presenting the Budget yesterday, Finance Minister Arun Jaitley also projected a fiscal deficit of 3.5 per cent of GDP for current fiscal against the earlier target of 3.2 per cent, which also accelerated pace of selling by participants.

Domestic institutional investors (DIIs) sold shares worth Rs 358.50 crore, while foreign portfolio investors net bought shares worth Rs 1,099.780 crore yesterday, as per provisional data.


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp