Mumbai, Feb. 1 -- The domestic equity markets witnessed heavy selling pressure on Sunday as stocks fell sharply during Finance Minister Nirmala Sitharaman's Union Budget 2026 speech, with investors reacting strongly to a steep increase in Securities Transaction Tax (STT) on futures and options (F&O) trades.

The benchmark indices opened deep in the red, reflecting nervous sentiment on Dalal Street. The Nifty 50 index slipped to 24,953.05, down by 367.60 points or 1.45 per cent, while the BSE Sensex fell to 81,221.97, declining by 1,047.81 points or 1.27 per cent.

The sharp fall came immediately after the Finance Minister announced higher STT rates on derivatives trading in the Budget. The move triggered intense selling, especially in sto...