Stocks Drop Broadly After Budget Hikes Trading Taxes, Offers No FII Boost

Indian equities fell sharply in a broad-based sell-off on Sunday after the Union Budget increased securities transaction tax on derivatives trading and offered little to revive foreign investment flows. The Nifty 50 slipped 0.7% to 25,140, while the BSE Sensex declined 0.61% to 81,766.42 by early afternoon. Sectoral losses were widespread, with 13 of 16 major indices in the red. Broader markets underperformed, as small-cap and mid-cap stocks sank 1.9% and 1.2%, respectively.