Sensex and Nifty suffered a big selloff today, a day after Finance Minister Arun Jaitley unveiled Budget 2018. A higher-than-expected fiscal deficit target for 2018-19, announced in Budget 2018, and imposition of new long-term capital gains tax on equities hurt the market sentiment, say experts. The BSE benchmark index Sensex fell nearly 600 points while NSE Nifty slipped below 10,850 at day's low. Weak global markets also hurt the domestic equities. Yields on 10-year US Treasuries jumped to a near four-year peak, sparking a selloff in other Asian markets. The rupee slid to 64.18 today against dollar, as compared to Thursday's close of 64.02. At 10:51 am, the Sensex was trading 475 points (1.32 per cent) lower at 35,432 while the Nifty was down 146 points (1.32 per cent) at 10,871.

Sensex and Nifty suffered a big selloff today, a day after Finance Minister Arun Jaitley unveiled Budget 2018. A higher-than-expected fiscal deficit target for 2018-19, announced in Budget 2018, and imposition of new long-term capital gains tax on equities hurt the market sentiment, say experts. The BSE benchmark index Sensex fell nearly 600 points while NSE Nifty slipped below 10,850 at day's low. Weak global markets also hurt the domestic equities. Yields on 10-year US Treasuries jumped to a near four-year peak, sparking a selloff in other Asian markets. The rupee slid to 64.18 today against dollar, as compared to Thursday's close of 64.02. At 10:51 am, the Sensex was trading 475 points (1.32 per cent) lower at 35,432 while the Nifty was down 146 points (1.32 per cent) at 10,871.