Stock market in heavy losses after Budget

Stock markets witnessed heavy selling pressure following the Union Budget presentation. The Sensex fell by nearly 1,000 points, while the Nifty declined by around 330 points. Bank Nifty also saw a sharp drop of about 870 points.

Meanwhile, the Nifty Midcap 100 index recorded a steep fall of nearly 1,100 points, reflecting widespread selling across broader markets.

Market participants cited the reduction in import duties on foreign goods as a key reason behind the decline. Another major factor impacting sentiment was the increase in the foreign investment limit to 24 percent, which added to investor concerns.