Interim budget creates 1 lakh cr losses

Written by: Super Admin
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Mumbai, Feb 17: The Interim budget 2009 has failed to provide prominence to key sectors and this in turn has created loss of Rs 1 lakh crore for investors. The markets on Tuesday, Feb 17 saw Sensex losing 300 points at 9,305.45 points and metals and realty stocks witnessing huge sell-offs.

A loss of 91,000 crore was witnessed when the combined market capitalisation of all listed companies plunged to Rs 29,79,509.44 crore at the end of the day from Rs 30,71,114.61 crore on Friday, Feb 13.

With a disappointing budget, market analysts have said that markets would continue to lose, leading to major sell offs at the two bourses.

"The markets have been disappointed as a section of the industry and market was expecting that there would be some kind of stimulus from the government in view of slowing down of the industrial growth (negative two per cent in Dec 08) and exports," brokerage firm Bonanza Portfolio Director Shiv Kumar Goel said.

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