Sensex tanks over 300 pts on lack of interim budget support
The BSE benchmark Sensex lost 308 points to trade at 9326.75 points immediately after presentation of the interim budget.business Updated: Feb 16, 2009 17:57 IST
The stock market tanked more than 300 points depressed by the lack of any real stimulus in the interim budget presented by Finance Minister Pranab Mukherjee on Monday.
The benchmark Sensex lost 308 points to trade at 9326.75 points immediately after presentation of the interim budget.
Mukherjee had announced stepping up funding for the social sector, but the interim budget did not offer much for the industry that is reeling under the impact of the global financial meltdown.
Selling pressure was witnessed across all the sectors, including realty and auto which saw early morning buying on hopes of government's support for ailing sectors.
Energy, metal and PSU stocks also saw heavy selling.