Indian stock continued to trade negatively with bankex, realty capital goods, metal and power stocks lost more than 4% due to disappointment from the interim general budget for 2009-2010.

With Pranab Mukherjee, minister of external affairs, not declaring any incentive for the sick zone through the interim budget, capitalists have gone on a selling spree in key realty stocks.

Realty stocks, which saw good buying interest in morning on hopes of some incentives from the budget, plunged deep into red in afternoon trade.

Banking shares extended losses on weak reaction for financial segment stocks internationally, while Metal stocks turned down as there was no changes in import duty in the interim budget.

BSE Midcap and Smallcap, which also remained week, lost 2.14% and 1.42% respectively.

At 01.59 p.m., the 30-share index Sensex was trading down 299.90 points at 9,334.84. It also touched a high of 9,637.04 and a low of 9,291.15.

On the other hand, the broad based Nifty lost 100.85 points at 2,847.50. It hit a high of 2,953.20 and a low of 2,843.95.

The overall breadth of the market was sharply negative as it saw 745 advancements as against 1,501 declinations.

ITC, which gained 1.09% was the major gainer in the 30-share index.  

On the other hand, the major losers in the Sensex were Jaiprakash Associates (7.28%), Reliance Energy (6.49%), Reliance Capital (6.10%), ICICI Bank (5.19%), Reliance Communications (4.95%), and Sterlite Industries (India) (4.72%).

In today’s budget, tax slabs kept unchanged, and the hopes of the different industries across the sectors related to tax rate were ignored.

Moreover, the increasing problem of layoffs owing to global meltdown was virtually overlooked in the budget.