"As expected, the new government didn't come up with any big-bang changes to what was introduced in the interim budget by UPA government. However, markets are disappointed on the fiscal consolidation front. The budget didn't speak anything about the rationalization of subsidies which was widely expected by most market players," said Rakesh Goyal, Senior Vice President, Bonanza Portfolio.

Among 30-Sensex constituents, 17 ended lower while 13 finished higher. Major losers were SBI (1.31 per cent), ICICI Bank (0.88 per cent), Axis Bank (0.78 per cent), HDFC Ltd (0.16 per cent), HDFC Bank (0.65 per cent) and Bharti Airtel (1.71 per cent).

Bajaj Auto (0.80 per cent), Hero MotoCorp (3.99 per cent), Mahindra and Mahindra (1.44 per cent), Tata Motors (0.89 per cent) and TCS (2.06 per cent) also ended lower, provisional data shows.

"Overall, FM has set the ball rolling but has fallen short of laying down the longer roadmap. FM's commitment to stick to 4.1 per cent fiscal deficit target inspite of oil crisis, poor monsoon is commendable but appears a bit ambitious," said Dinesh Kanabar Deputy CEO, KPMG in India.

IT major Infosys, in line with overall trends fell, 0.35