Budget 2026: Why did Indian stock markets crash despite big expectations? | Nirmala Sitharaman

India’s stock markets saw a sharp slide right after Budget 2026, rattling traders and investors. The Sensex and Nifty swung wildly as new tax proposals triggered intense volatility across Dalal Street. A key announcement on Securities Transaction Tax, especially for futures and options, appears to have unsettled the derivatives segment. Brokerages are already warning of higher trading costs and possible cooling of volumes. While the government’s intent may be broader market stability, the immediate reaction has been dramatic. Is this a short-term jolt or the start of a bigger market reset?