India’s benchmark equity indices tumbled sharply on Sunday afternoon after the Union Budget proposed a steep increase in the Securities Transaction Tax (STT) on commodity futures, triggering a broad sell-off across sectors. The Budget proposed raising STT on commodity futures to 0.05 per cent from the existing 0.02 per cent. Finance Minister Nirmala Sitharaman also announced that buyback proceeds will now be taxed as capital gains for all categories of shareholders. ADVERTISEMENTAfter swinging between gains and losses in early trade, the 30-share BSE Sensex briefly bounced back before surrendering all gains during the Budget presentation. On Friday, the Sensex declined 296.59 points, or 0.36 per cent, to settle at 82,269.78.

Source: The Telegraph February 01, 2026 07:37 UTC