Benchmark indices fell sharply for first time in last five straight sessions after Budget failed to boost sentiment.
The BSE Sensex fell 394.67 points to 39,513.39 and the Nifty50 declined 135.60 points to 11,811.20. About two shares declined for every share rising on the BSE.
Yes Bank, NTPC, UPL, M&M and Vedanta were biggest losers among Nifty50 stocks, down 4-8 percent while Indiabulls Housing, IndusInd Bank, Kotak Mahindra Bank and SBI gained 1-3 percent.
Nifty Midcap index fell 1.7 percent. Escorts, Adani Enterprises, Jain Irrigation, Allahabad Bank, BEL, DLF and InterGlobe Aviation fell sharply while ICICI Prudential gained a percent.