New Delhi, Feb. 1 -- The Indian stock market witnessed a sudden, sharp fall in intraday trade on Sunday, February 1, after the Finance Minister (FM) presented her ninth consecutive budget, announcing measures to accelerate economic growth while maintaining fiscal prudence.

The Sensex crashed more than 2,300 points from the day's high, while the Nifty 50 dropped to 24,571.75 after the FM announced the STT hike.

The biggest reason behind the sudden, sharp fall in the market is the STT hike proposal.

Finance Minister proposed to increase Security Transaction Tax (STT) on Futures & Options (F&O) transactions.

Sitharaman proposed to raise the STT by more than 50% on futures to 0.05% from 0.02% and to 0.15% from 0.01% earlier on options tra...