Indian benchmark indices experienced significant volatility on Tuesday as Finance Minister Nirmala Sitharaman presented the Union Budget 2024-25. A notable market-moving announcement was the increase in long-term capital gains tax to 12.5% from the previous 10%.
Initially, the Sensex plummeted to a day’s low of 79,224, down 1,278 points, while the Nifty 50 dropped 435 points to 24,074. However, both indices swiftly recovered. The Nifty ended 0.12% lower at 24,479.05, while the Sensex settled 0.09% lower at 80,429.04.
The top gainers included Titan, ITC, and Tata Consumer, while losers included L&T, Hindalco, and Shriram Finance. ITC, one of the biggest gainers during today’s trade, saw its stocks trading 6.52% higher due to no changes in tobacco taxation.
In broader markets, the mid-cap and small-cap indices saw sharp recoveries from their lows, ending the day with the mid-cap down 1.20% and the small-cap down 0.75%.
(With ANI input)
