Indian stock markets plunged Monday on concerns of a ballooning fiscal deficit and disappointment that the Finance Minister did not announce major liberalisation measures in his new budget. The benchmark Sensex index was down 5.88 per cent, or 877.38 points, at 14035.67 in afternoon trade. Banking, real estate and capital goods stocks led declines. Reliance Infrastructure was down 12.18 per cent, at 1,134.8 rupees a share. ICICI Bank, the nation’s largest private bank, fell 10.78 per cent, to 672.8 rupees a share, and infrastructure conglomerate Jaiprakash Associates was off 10.1 per cent, at 192.75 rupees a share. Keep up with the latest business news from the region with the daily Emirates Business 24|7 newsletter. To subscribe to the newsletter, please click here .