The key equity indices traded with sharp losses in mid-afternoon trade as investor sentiment weakened after the government announced an increase in the securities transaction tax (STT) on futures contracts to 0.05% while STT on options rises from 0.10% to 0.15% of the premium. The move directly hit the most active part of the market, triggering aggressive unwinding in brokerages, exchanges and high beta stocks linked to F&O volumes. Nifty dropped below 25,100 level.
Realty shares declined after rallying the past four trading sessions.
At 14:25 IST, the barometer index, the S&P BSE Sensex declined 814.83 points or 0.93% to 81,501.15. The Nifty 50 index tumbled 261.15 points or 1.03% to 25,059.50.
The broader market underperformed the frontline indices. The BSE 150 Mid-Cap index declined 1.27% and the BSE 250 Small-Cap index slipped 1.11%.
The market breadth was weak. On the BSE, 1,820 shares rose and 2,234 shares fell. A total of 190 shares were unchanged.
The NSE's India VIX, a gauge of the market's expectation of volatility over the near term, rallied 5.96% to 14.45.
Buzzing Index:
The Nifty Realty index fell 1.62% to 770.30. The index jumped 3.52% in the past four trading session.
Godrej Properties (down 2.98%), DLF (down 2.89%), Sobha (down 2.64%), Prestige Estates Projects (down 2.2%) and Lodha Developers (down 1.91%), Oberoi Realty (down 1.69%), Phoenix Mills (down 1.09%), SignatureGlobal India (down 0.75%), Brigade Enterprises (down 0.26%) declined.
Numbers to Track :
MCX Gold futures for the 5 February 2026 settlement fell 4.58% to Rs 1,44,400, while MCX Silver futures for the 5 March 2026 settlement declined 8.67% to Rs 2,66,623.