Brief by Shorts91 Newsdesk / 07:48am on 23 Jul 2024,Tuesday Business
Following Finance Minister Nirmala Sitharaman's Budget announcement, which included an increase in the Securities Transaction Tax (STT) on Futures and Options (F&O) and a raise in capital gains exemption limits, the Sensex fell dramatically. The index dropped 1,266.17 points to 79,235.91, while the Nifty fell 435.05 points to 24,074.20. The drop was exacerbated by the market's reaction to increased taxes on F&O securities. Despite the decline, the finance minister noted India's economic growth, with inflation stabilizing at 4% and core inflation at 3.1%.
