Budget disappoints: Sensex slides 329pts, RIL sheds 5%

The Sensex opend almost unchanged at 9,637 - up two points. The index, thereafter, soon slipped into red and was down around 75-odd points before the acting finance minister Pranab Mukherjee started his Interim Budget Speech.

The index extended losses during the course of the Speech, and finally plunged to a low of 9,279 as investors were dis-appointed from the non-eventful Budget.

In today's Interim Budget the UPA government did not announce any major changes in the Budget, nor lowered any taxes and neither the much talked about stimulus package. However, the government did increase spendings on the rural and defence front.
The Sensex finally ended with a loss of 329 points at 9,305.
The BSE Metal index shed 4.8% at 5,031. The Realty, Capital Goods indices and the Bankex dropped around 4.5% each to 1,519, 6,249 and 4,795, respectively.
The market breadth was fairly negative - out of 2,482 stocks traded, 1,598 declined, 776 advanced and the rest were unchanged today.
INDEX SHAKERS...
Jaiprakash Associates slumped nearly 8% to Rs 70. Reliance Infrastructure tumbled 6.3% to Rs 533.
ICICI Bank and Reliance Communications plunged 5.8% each to Rs 409 and Rs 171, respectively.
Tata Steel, Reliance and Larsen & Toubro shed around 5% each at Rs 184, Rs 1,319 and Rs 666, respectively.
SBI and Sterlite dropped nearly 5% each to Rs 1,136 and Rs 263, respectively.
BHEL slipped 4.5% to Rs 1,401. Wipro declined 3.6% to Rs 216.
Ranbaxy and HDFC Bank were down 3.3% each at Rs 205 and Rs 915, respectively.
Hindalco, DLF, HDFC, ACC, NTPC, Infosys and Tata Power were the other major losers.
VALUE & VOLUME TOPPERS
Reliance topped the value chart with a turnover of Rs 240 crore followed by Educomp Solutions (Rs 207.60 crore), DLF (Rs 145.70 crore), Reliance Infrastructure (Rs 119.50 crore) and Reliance Capital (Rs 118.20 crore).
Unitech led the volume chart with trades of around 2.40 crore shares followed by Satyam (2.01 crore), Cals Refineries (1.46 crore), DLF (91.95 lakh) and HDIL (83.77 lakh).