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MARKET WRAP: Sensex tanks 793 points; Nifty holds 11,550; India VIX up 7%

On Monday, the benchmark S&P BSE Sensex and the broader Nifty50 registered their biggest single-day-fall in four years. In two days, investors have lost Rs 4.95 trillion market capitalization.

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It was a bloodbath on D-street on Monday as markets fell for a second consecutive day with the benchmark S&P BSE Sensex and the broader Nifty50 registering their biggest single-day-fall in four years. The Sensex plummeted 908 points intra-day while the Nifty50 shed 288 points.  Union Budget 2019 triggered the fall as it failed to cheers investors. Proposals like surcharge on high income generating groups, increased threshold of minority shareholding from 25 per cent to 35 per cent and no specific announcement to revive consumption dampened investment sentiment. Furthermore, weak ...