MARKETS: Sensex falls 500 pts, Nifty near 11,800 as Budget disappoints D-St

Benchmark indices tumbled over a per cent each on Saturday after Finance Minister Nirmala Sitharaman cocluded her Union Budget 2020 speech. Sitharaman revised the country's fiscal deficit target to 3.8 per cent for the current fiscal year from an earlier target of 3.3 per cent. 

The finance minister also announced that the companies won't need to pay dividend distribution tax (DDT).

The S&P BSE Sensex was trading around 40,210-mark, down 450 points, or 1.15 per cent. Larsen & Toubro and HDFC (both down 4%) were the top laggards in the Sensex pack. Bajaj Finance and Kotak Mahindra Bank declined 3 per cent each.

The broader Nifty50 index was trading near 11,810-mark, down 152 points, or 1.27 per cent.

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