Closing bell: The Sensex plummeted 840 points, its biggest single-day fall in two-and-a-half years, while the Nifty ended below the 10,800-mark as the post-Budget sell-off continued for the second straight day.
Long-term capital gains tax on equities and and 10 per cent tax on distributed income from equity-oriented mutual funds dampened the domestic sentiment.
Market mood suffered another setback after Fitch Ratings today said high debt burden of the government constrains India’s rating upgrade.
The S&P BSE Sensex crashed 839.91 points or 2.34 per cent to end at 35,066.75. This is its biggest single session fall since August 24, 2015, when it had lost 1,624.51 points.
The Nifty50 cracked below the 10,800-mark to close down by 256.30 points or 2.33 per cent at 10,760.60. Intra-day, it hit a low of 10,736.10.