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Budget disappoints, Sensex slips 3.4 pct

February 16, 2009

INDIA/The stock markets were disappointed as the government unveiled a lacklustre interim budget for 2009/10.

The budget failed to deliver on investor expectations of a stimulus plan for sectors such as autos and construction, while announcing that spending was likely to increase later in the year. For complete coverage of Interim Budget 2009/10, click here.

The BSE Sensex dropped 3.4 percent to close at 9305, while the Nifty index closed 3.3 pct lower.

Index heavyweights Reliance Industries and ICICI Bank, which ended lower by over 5 percent, dragged the benchmark lower.

All sectoral indices ended the day in the red, with metal, realty and banking sectors being the top losers. sdsadasd

The realty index, which was in the green in early trade on expectations of some relief measures, ended down 4.5 percent as there were no new announcements which could help the battered sector.

The interim budget presented today has a limited shelf life because of the approaching nationwide elections. Do you think the stock markets will recover soon from today’s losses? Or is there more pain left?

Comments

Well the fiscal deficit will have us out of pocket for a couple of years ahead! You can kiss the fiscal responsibility and budgetary something bill good bye. Here we go, now we pay for the US mess, not just US citizens…

Posted by Lahar | Report as abusive
 

By the end of 2009 I see the markets at 15000. The final budget would surely boost sentiments!!

Posted by Ram | Report as abusive
 

…but then wasn’t it very expected. I don’t think it was totally out of the blue. But if television anchors are to blabber for the full day that it is a lacklustre affair, everyone is ought to believe it.

Posted by RS | Report as abusive
 

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