The Union Railway Budget 2016, failed to ignite any kind of spark to the stock markets, which ended the day lower, despite European cues being strong. The Sensex lost ground for the third straight day with the Nifty losing as much as 250 points in these 3 days.
Asia closed the day mixed after the Shanghai Composite had a roller coaster ride and lost slightly more than 6 per cent in trade.
Rail oriented stocks saw a severe drubbing with Kalindee Rail dropping 8 per cent, while Kernex fell 5 per cent and Texmaco Rail and Titagarh Wagons falling as much as 10 per cent each.
Shares in Castrol saw some selling pressure, after it was downgraded by a leading brokerage firm. The midcap index saw an even larger slump in prices with the index falling nearly 2 per cent in trade. Voltas, DHFL and Unitech saw the deepest cuts from the space.
Meanwhile, markets in Europe were trading higher after a rebound in crude prices. The German DAX, French CAC and the UK's FTSE were all lower.