Mumbai (PTI): The Bombay Stock Exchange benchmark Sensex tanked nearly 450 points at noon today even as Budget presentation by Finance Minister Pranab Mukherjee continued in Parliament.

Market participants said Mukherjee pegging fiscal deficit at a high of 6.8 per cent of GDP for 2009-10 is a cause of concern, triggering hectic sell-off. Fiscal deficit in the previous fiscal was 6.2 per cent of GDP.

They further said markets fell drastically even though the Fringe Benefit Tax, seen as an irritant of corporate, has been abolished.

The Sensex tumbled 448.25 points at 14,464.80 at 1200 hrs with most of the heavy-weights recording losses.

Sector wise analysis shows Bankex was the worst bit followed by oil and gas and metal indices.

Similarly, the wide-based National Stock Exchange index Nifty tumbled 133.30 points at 4,290.95 at the same time.