Sensex tanks over 300pts on lack of interim budget support

Mumbai, Feb 16 (PTI) The Indian 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 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.