The BSE Sensex dropped 980 points to sink below the 40,000-level in late afternoon trade on Saturday, tracking a massive sell-off in capital goods and financial stocks after Finance Minister Nirmala Sitharaman presented the Union Budget for 2020-21.
After a highly volatile session, the 30-share index sank to 39,805.61. Similarly, the 50-share NSE Nifty plunged 248.05 points to 11,714.05. ITC was the top laggard in the Sensex pack, tanking six percent, followed by HDFC, L&T, SBI, ICICI Bank and ONGC.
On the other hand, TCS, HUL, Tech Mahindra and Infosys bucked the market trend to trade with gains.
(With inputs from PTI)