Disappointment over railway budget subdues equity markets

Mumbai, Feb 25 (IANS) Disappointment over the railway budget, coupled with derivatives expiry and a weak rupee subdued Indian equity markets during the afternoon trade session on Thursday.

Negative Asian markets also dented sentiments.

This led the barometer 30-scrip sensitive index (Sensex) of the BSE to trade flat — down by 51 points, or 0.22 percent.

Similarly, the wider 50-scrip Nifty of the National Stock Exchange (NSE) traded lower by 24.10 points, or 0.34 percent, at 6,994.60 points.

The Sensex, which opened at 23,105.16 points, traded at 23,037.92 points (12.45 p.m.) — down 51.01 points, or 0.22 percent from the previous day’s close at 23,088.93 points.

During the intra-day trade, the Sensex touched a high of 23,142.96 points and a low of 22,990.53 points.

The BSE market breadth was heavily tilted towards the bears — with 1,267 declines and 900 advances.

Initially, the key indices of the Indian equity markets opened on a negative note in sync with their Asian peers.

Investors’ sentiments were subdued after the railway budget failed to announce big ticket capital expenditure projects, so as to meet the government’s fiscal deficit targets.

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