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Thursday, February 26, 2015

Indian stock markets decline as Rail budget fails to impress

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(26/2/2015 - Stockinvestingtips bureau)- It was a bad day for Indian Stock markets as benchmark indices nosedived today. Railway Minister Prabhu presented a poor railway budget today. 'Poor' as stock prices of railway component manufacturers declined today
. Union Railway budget 2015 failed to boost investor confidence in rail component manufacturing sector. National Stock Exchange's NIFTY 50 index ended below 8700 mark today. The 50 component index closed at 8683.85 down by 83.40 pts today. Similarly Bombay Stock Exchange's blue chip index SENSEX 30 declined by 261.34 points to close at 28746.65 points.

Midcap index at BSE also declined by 0.79 percent while BSE Smallcap index declined by 0.80 percent today. Major sector which felt the burnt from Union Railway budget included the cement sector and Fertilizer sector as increased Freight charges announcement dampened investor sentiments. Investors also booked profits ahead of Union Finance budget which would be presented on saturday.

Top 5 SENSEX gainers for today:
1)NTPC Ltd
2)GAIL India Ltd
3)Oil and Natural Gas commision
4)Bharti Airtel

Top 5 SENSEX losers for today:
1)Bharat Heavy Electricals
2)Sun Pharma
3)Infosys Ltd
4)Cipla Ltd
5)Hindalco Industries Ltd

Market breadth at NSE remained negative with 309 gainers and 763 loser at EOD. At BSE IT sector index fell by 1.43 percent today, Auto Index also declining by 1.43 percent while BSE's capital goods index declined by 1.31 percent.

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