NEW DELHI: The bloodbath in equity markets continued from where it had left on Friday as Sensex lost more than 400 points in opening trade, slipping below the 35,000-mark. Nifty too had lost more than 150 points.
The BSE index opened with a loss of 344.60 points on 34,718.85 and extended it losses hitting the intra-day low of 34,520, within initial 10 minutes of trading. Along with the broader 50-share NSE Nifty, it was losing more than a per cent.
The correction had set in the market after the government re-introduced the LTCG tax on equity holdings in the Union Budget presented on February 1. On Friday, itself, ratings agency Fitch decided against giving an upgrade to India after the government said that it will miss its fiscal deficit target this year and the next one.