Sensex Crashes 988 Points As Budget Fails To Enthuse Investors: Highlights
Budget Highlights: The S&P BSE Sensex and NSE Nifty 50 indexes ended the Budget trading session with losses of more than 2 per cent after the Finance Minister Nirmala Sitharaman's Budget for financial year 2020-21 failed to enthuse investors. The Sensex nosedived by 988 points to 39,375 and Nifty tumbled 300 points to 11,662, with analysts saying the Budget proposals announced by the Finance Minister failed to lift investor sentiment. The broader markets also succumbed to selling pressure, with the BSE Midcap index sliding 2.2 per cent to 15,119 and the BSE Smallcap declining 2.2 per cent to 14,344. The significant measures announced in the Budget were a reduction in personal income tax for individuals who do not claim any deduction under income tax act and removal of dividend distribution tax for the dividend paying company while taxing it in the hands of dividend receiver.
