Stock markets: Sensex tanks 117 points, Nifty down to 24,443 day after budget presentation

Stock markets update: The recent budget announcement to increase the short-term capital gains tax on share sales from 15 per cent to 20 per cent and the long-term capital gains tax from 10 per cent to 12.5 per cent is still evident in the stock market today. After closing in the red on budget day, the market opened weak again on Wednesday.