Nifty Plunges 495 Points on Budget Day: STT Hike Triggers Massive Sell-off

• Nifty 50 dropped 495 points (1.96%) to close at 24,825, its lowest in four months and biggest single-day fall since April 2025.
• Finance Minister Nirmala Sitharaman's announcement of a 150% increase in Securities Transaction Tax (STT) on F&O trading caused panic selling.
• Approximately ₹11 lakh crore of market capitalization was wiped out from BSE-listed companies.
• Only the Nifty IT index closed in green; PSU Bank, Metal, and Oil & Gas sectors faced severe pressure.
• Experts warn of further decline, with immediate support at 24,571 and 24,337, and resistance at 25,000-25,150.

Why It Matters: A significant STT hike on F&O trading led to a massive Nifty sell-off, wiping out ₹11 lakh crore.