Sensex, Nifty nosedive nearly 2.5% as Budget fails to enthuse investors

Indices log worst show since 2009

The benchmark indices logged their worst Budget-day performance in 11 years (since 2009), as investors felt the measures announced by Finance Minister Nirmala Sitharaman would do little to stimulate growth and help stressed sectors.

The Sensex ended 988 points or 2.43 per cent lower at 39,736, while the Nifty dropped 300 points or 2.51 per cent to close at 11,662. This was the largest single-day fall in over three years. All the BSE sectoral indices declined, with the exception of tech stocks.

Concerns over widening fiscal deficit and the Rs 2.1-trillion disinvestment target set for the next fiscal year also weighed on