Overview
- Finance Minister Nirmala Sitharaman raised Securities Transaction Tax to 0.05% on futures and 0.15% on options premium and said share buybacks will face capital gains tax for all shareholders.
- Markets slumped on Budget day with the Sensex down roughly 2,300–2,370 points and the Nifty off about 750 points, with press reports estimating intraday investor wealth erosion of roughly ₹8–11 lakh crore.
- Volatility persisted the next session as the Sensex briefly jumped more than 450 points and the Nifty crossed 24,900 before both gauges slipped back into losses.
- Capital‑market names led the sell‑off: BSE fell over 15%, Groww dropped about 14% from its day’s high, Angel One slid around 10%, CDSL declined over 9%, NSDL eased nearly 3%, and IIFL tumbled about 18%.
- Brokerage and industry voices cautioned that higher impact costs may damp F&O volumes and weigh on earnings for brokers, exchanges, asset managers and depositories.