New Delhi, July 23, 2024.
Domestic stock market indices, the Sensex and the Nifty fell over 1.5 per cent in afternoon trades after Finance Minister Nirmala Sitharaman announced to hike the securities transaction tax (STT) on futures and options (F&O) segment and long-term capital gains (LTCG) on financial and non-financial assets.
The BSE’s 30-share index Sensex dropped over 1,200 points, or 1.6 per cent to a low of 79224.41 during intra day trades and NSE’s Nifty fell 435.09 points, or 1.77 per cent to a day’s low of 24,074.2. However, both the indices recover later.
While announcing the Union Budget 2024-25, Sitharaman proposed to increase the STT on futures and options of securities to 0.02 per cent and 0.1 per cent, respectively.
