Railway Stocks Take A Hammering Post Rail Budget

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Railway stocks fell sharply in trade today as markets believed nothing much came from Railway Budget that would benefit these stocks.

Railway Stocks Take a Hammering Post Rail Budget
Kalindee Rail Nirman Engineers: Quotes, News
BSE 102.4BSE Quote0 (0.00%)
NSE 102.7NSE Quote0 (0.00%)
Kalindee Rail Nirman dropped 7.36 per cent, Texmaco fell 7.26 per cent, Titagorh Wagons fell 6 per cent and Container corporation dropped 3.5 per cent.

Stocks from the rail sector had fallen in morning trades itself. Dealers say that there may have been positions that were created earlier this month and the fall could be attributed to the same. The last day of the F&O expiry for the Feb series may also have weighed on sentiments, which led to the selling pressure.

Meanwhile, markets themselves were trading lower with the Sensex down 135 points and the Nifty dropping 44 points in trade.


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