A maturing market amid the mayhem
Budget disappoints, Sensex slips 3.4 pct
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.
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?