Impact Of Rail Budget On Stock Market

"Railway Stocks Derailed"

Our union Rail Minister somehow tried to make common man happy by providing few benefits but Rail Budget was not up to the stock market's expectations. Stock Marketers were totally disappointed  as there was nothing good for them in Mamata's bag.

Rail budget  totally unimpressed NSE BSE traders. It failed to push NSE BSE stocks  to float in a positive manner. 
The statistics of stock market shows the whole story itself:-

• The BSE (SENSEX), fell over 30 points to 16,255 points at the end of the day.
• The NSE (Nifty) closed over 11 points down at 4858 points at the end of the day.

Not only general stocks, all railway stocks also got derailed after the announcement of budget. In the morning, the stocks were down in 1-4% range.

Take a look of Railway stocks:-

• Kalindee Rail Nirman (Engineers) was quoting at Rs 126, down Rs 9, or 6.67%.
• Titagarh Wagons was quoting at Rs 362.90, down Rs 18.75, or 4.91%.  
• BEML was quoting at Rs 621, down Rs 12.90, or 2.04%.  
• Kernex Microsystems (India) was quoting at Rs 97.45, down Rs 2.10, or 2.11% . 
• Texmaco was quoting at Rs 39.60, down Rs 1.15, or 2.82%.

It is expected that railway dependent stocks could move up if they find anything positive in the upcoming and most awaited union budget. So Hope for the BEST!!!

Click Here>>RAIL BUDGET 2012-2013