MUMBAI, Feb 16 (PTI): The interim Budget today failed to enthuse the stock market and analysts believe the government fell short of investor expectations as the benchmark index Sensex plunged over 300 points.
The 30-share index Sensex dropped by as many as 343 points to an intra-day low of 9,291.15 points in afternoon trade as investors’ hopes were dashed with the Government failing to announce major sops for any sector.
Analysts believe that unnecessary expectations had been built up before the announcement, which are dashed after Finance Minister Pranab Mukherjee presented the interim Budget for 2009-10. The first and second stimulus could not give any direction to the market and post this Budget there is likely to be poor movements in the market, Jain added.
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