Budget: Sensex falls 1% as lack of stimulus weighs, Nifty ends at 11,811

At present, the Sensex and Nifty are just 2 per cent below their all-time highs logged a month ago

The benchmark indices ended the Budget day session a per cent lower, as the lack of stimulus to shore up the economy left investors disappointed. Additional tax on the ultra-rich and the proposal to raise public shareholding to 35 per cent also weighed on sentiment.

The Sensex closed at 39,513, down 395 points or 0.99 per cent, while the Nifty ended at 11,811, down 136 points or 1.14 per cent. This was the biggest fall registered by the indices Budget day in six years. The rupee ended marginally better at 68.42, compared to Thursday’s close of 68.50.

Analysts said the market was