Union Budget 2024: Sensex Nosedives Over 1,150 Points. Here's Why

The Indian equity benchmarks experienced a sharp decline on Tuesday following Union Finance Minister Nirmala Sitharaman's Budget 2024 speech.

The downturn was driven by banks, financials, realty, and energy stocks.

The BSE Sensex plummeted over 1,150 points, while the NSE Nifty fell below the 24,150 level.

As of 12:55 PM, the Sensex had dropped 1,178 points (1.46%) to 79,995, and the Nifty was down 382 points (1.56%) to 24,127.

This steep fall in domestic indices resulted in a loss of approximately Rs 8.8 lakh crore in BSE market capitalisation.

Investor wealth, as indicated by the BSE m-cap, decreased by Rs 8.85 lakh crore to Rs 439.46 lakh crore, down from Rs 448.32 lakh crore in the previous session.