Mumbai: Global cues, along with budgetary proposal to tax long-term gains on shares pulled the Indian equity market deep into the red during the morning trade session on Tuesday.
Accordingly, the two main indices of the Indian equity market — S&P BSE Sensex and NSE Nifty50 — corrected by around 3 per cent.
Just after the pre-open session, the barometer 30-scrip Sensitive Index (Sensex) of the BSE traded over a 1,000 points or 2.90 per cent lower from Monday’s close.
Similarly, the wider Nifty50 of the National Stock Exchange receded deep into the red. It plunged by over 300 points or 3.00 per cent.
At 9.35 a.m., the Sensex traded lower by 898.18 points or 2.58 per cent to 33,858.98 points from its previous close of 34,757.16 points.
The NSE Nifty50 traded lower by 244.10 points or 2.29 per cent at 10,422.45 points.