The BSE Sensex dropped 123 points, or 0.2%, to 80,560 in morning trade on Monday, hitting its lowest level since September 30, following a broad-based sell-off during Sunday’s special trading session after Finance Minister Nirmala Sitharaman announced a hike in the securities transaction tax on futures and options in the Budget 2026. The benchmark index fell about 2% in the previous session, logging its biggest percentage drop on a budget-day trading session in six years, as investors digested the government’s budget for fiscal year 2026–27. A higher gross borrowing target, which triggered a spike in bond yields, also pressured market sentiment. Traders also anticipated the release of US jobs data later this week. Most sectors traded in the red, led by technology, banking, and auto stocks. Among individual stocks, State Bank of India fell 1.9%, Titan dropped 1.7%, ITC declined 1.6%, Infosys slid 1.5%, and Hindustan Unilever fell 1.2%.
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