The Budget proposal announced by the Finance Minster Arun Jaitley on Thursday in the Parliament made Investors to lose Rs 5,00,000 crore in a single day in stock markets as stock markets faced bloodbath and BSE Sensex closed with a fall of 839.91 points.
Following the 9th steepest fall in the BSE, National Stock Exchange (NIFTY) also fell by 256.30 points.
According to experts, Investors lost their money as the announcement of Long Term Capital Gain Tax (LTGT) of 10 per cent in the Budget for Financial Year 2018-19 by Finance Minister created havoc in the market and everyone become Bikwal (seller).
As per records, this is the 9th steepest fall in a single day in the Indian stock markets in the last 10 years. The BSE Sensex had recorded steepest crash of 1,624 points on August 24, 2015. The second steepest fall was recorded on January 21, 2008 whereas the 3rd steepest fall was on October 24, 2008. On January 21, 2008, BSE Sensex had fallen by 1408.35 whereas on October 24, 2008 it had gone down by 1070.63 points.
As far as steepest fall in terms of percentage in the BSE is concerned, it was recorded on October 24, 2008 when it went down by 10.76 per cent in a single day.