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New Delhi. STT has been increased under F&O in the budget. It was increased in the last budget also. This time it has been increased from 0.1 percent to 0.15 percent. After this announcement, a big decline is being seen in the stock market. Sensex has fallen by 2300 points, while Nifty is trading down by more than 624 points. There has been a huge decline in the capital sector. There is an outcry in stocks like BSE, GROW. Whereas a huge decline is being seen in Vedanta, Hindustan Zinc and Hindustan Copper. Nifty is trading below 24,800, while Sensex is trading below 80,500.

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Out of BSE top 30 stocks, only 3 stocks are rising, while 27 stocks are trading on the decline. Except Sun Pharma, TCS and Kotak Mahindra, all other stocks have fallen by about 8 percent. There is a decline in all sectors including auto, pharma and FMCG, bank sector. There is pressure in sectors like PSU banks also.

What is STT?

Transaction tax is levied on buying and selling of any asset in the stock market, which is called STT. Once again STT has been increased, whereas last time also it was increased. This time STT has been increased for buying and selling any premium in F&O.

Special announcement for foreign investors

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A special announcement has been made in the budget regarding the stock market. Now PIOs have been given permission to invest in the Indian market, that is, persons of Indian origin, who live abroad, can also now invest in the Indian market. After this big announcement, it is considered certain that foreign investors will come to India.

As soon as the market opened, a decline of 10% was seen in the shares of Hidustan Zinc, more than 18 per cent in the shares of Hindustan Copper, about 5 per cent in the shares of Hindustan Aluminum and 7 per cent in the shares of Hindalco. However, buying is being seen in defense stocks. Shares like BEL, Data Pattern are trading with a rise of about 2 percent. There has also been a recovery in metal stocks and they are seen trading in the green.