Post-Budget Sell-Off: Markets Tumble, Investors Lose ₹11 Lakh Crore; What's Next?

• Indian equity markets saw a sharp sell-off post-Union Budget, eroding investor wealth by ₹11 lakh crore on February 1.
• Benchmark indices Sensex and Nifty tumbled nearly 2% following a proposed hike in Securities Transaction Tax (STT) on derivatives.
• Sensex declined 1,546.84 points to 80,722.94, while Nifty fell 495.20 points to 24,825.45.
• Experts identify key support levels for Nifty at 24,700–24,650 and for Bank Nifty at 57,800–57,700.
• Volatility is expected to persist, with resistance for Nifty at 25,000 and Sensex at 81,300.

Why It Matters: Post-Budget, Indian markets experienced a significant downturn due to STT hike, with continued volatility expected.