Day after Budget 2018, Sensex crashes by over 800 points, Nifty sinks over 250 points

Mumbai: Indian equity markets on Friday tumbled and provisionally closed deep in the red — the BSE Sensex shedding over 800 points — following negative global cues and a disappointing announcement in the Budget on the reintroduction of the long-term capital gains (LTCG) tax.

Stocks of banking, capital goods, auto, consumer durables, oil and gas, and metals witnessed a huge sell-off. The barometer Sensex of the BSE provisionally closed (at 3.30 p.m.) lower by 839.91 points or 2.34 per cent at 35,066.75 points. On the National Stock Exchange, the wider Nifty50 declined by 275.40 points or 2.50 per cent to close at 10,741.50 points. On Thursday, the Nifty50 fell by 10.80 points or 0.10 per cent to 11,016.90 points, while the Sensex closed at 35,906.66 points — down 58.36 points or 0.16 per cent.