Day After Budget, Sensex Suffers Biggest Selloff Since Nov 2016 | Read

PUBLISHED ON: February 2, 2018 | Duration: 4 min, 46 sec

   
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Sensex and Nifty suffered a big selloff today, a day after Finance Minister Arun Jaitley unveiled Union Budget 2018-19. A higher-than-expected fiscal deficit target for 2018-19 and imposition of new long-term capital gains tax on equities hurt the market sentiment, say experts. The BSE benchmark index Sensex closed 839 points lower at 35,066, while NSE Nifty settled at 10,760. That marked the biggest percentage loss for Sensex in a single day since November 2016. Weak global markets also hurt the domestic equities. Yields on 10-year US Treasuries jumped to a near four-year peak, sparking a selloff in other Asian markets. (Video Courtesy: Lok Sabha TV)
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