The Indian stock market crashed with the S&P BSE Sensex falling over 1,000 points and going below the 80,000 mark while the NSE Nifty 50 traded at 24,200 which fell by over 300 points as Union Finance Minister Nirmala Sitharaman finished presenting the Union Budget 2024.  The market crashed sharply after Finance Minister Nirmala Sitharaman announced a hike in the Securities Transaction Tax (STT) on Futures and Options (F&O) securities.

The markets had turned volatile mid-trade as Sitharaman`s Union Budget 2024 presentation was underway in the Lok Sabha. The 30-share BSE Sensex jumped as soon as she began presenting the budget but fell within minutes in the red and traded flat until 11.41 am.