Sensex down 154 points as sentiments subdued after rail budget

Mumbai, Feb 26 (IANS) A benchmark index of Indian equities markets, the 30-scrip Sensitive Index (Sensex), was trading 154 points or 0.53 percent down in Thursday’s late afternoon trade session.

Investor sentiment was subdued after Railway Minister Suresh Prabhu presented his maiden budget to the Lok Sabha.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was also trading in the red. It was down 48.25 points or 0.55 percent at 8,719 points.

The Sensex of the S&P Bombay Stock Exchange (BSE), which opened at 29,051.90 points, was trading at 28,853.77 points (2.30 p.m.), down 154.22 points or 0.53 percent from the previous day’s close at 29,007.99 points.

The Sensex had touched a high of 29,069.13 points and a low of 28,694.86 points in the intra-day trade so far.

Except realty and oil and gas stocks, all other sector-based indices of the BSE were trading in the red.

Sector-wise stocks of automobile, healthcare, information technology (IT), capital goods and bank came under heavy selling pressure.

Other sectors like metal, technology, entertainment and media (TECK), consumer durables and fast moving consumer goods (FMCG) also sustained selling pressure.

The S&P BSE automobile index decreased by 164.45 points, followed by healthcare index which plunged 140.81 points, IT index was lower by 118.73 points, capital goods index fell by 113.01 points and bank index declined by 100.02 points.

Metal index also declined by 95.08 points, TECK index was lower by 53.85 points, consumer durables index fell by 40.90 and FMCG index was down 33.98 points.

However, S&P BSE realty index rose 13.73 points and oil and gas index was up 5.43 points.

The day’s biggest trigger — the rail budget — failed to enthuse investor confidence, even as it proposed various plans to re-energise one of the largest railroad networks in the world, while seeking to improve passenger amenities and safety.

The markets expected the budget to bring in fiscal stability to the railways coupled with fund inflows for modernisation, in line with the government’s proposal for infrastructure development through the public-private partnership (PPP) model.

Rules of Discussion on Sensex down 154 points as sentiments subdued after rail budget

1. This forum is for discussion of financial markets. Please respect others view even if they are contrary to you.
2. Member's comments should lead to value addition in forum discussion.
3. If anyone is found making repetitive Explicit/Abusive/Racial comments, his account shall be banned and old posts will be deleted.
Loading comments …