Rs 11 lakh crore wiped out: Why did markets see their biggest Budget-day fall in six years?

Indian stock markets logged their worst Budget-day performance in six years as the Sensex and Nifty plunged sharply after the Union Budget 2026 announcements. A surprise hike in derivatives transaction tax, sustained foreign investor outflows, and rising volatility spooked investors, triggering a broad-based sell-off across banks, large-cap and mid-cap stocks