The market remained under pressure ahead of expiry of February derivative contracts and Railway Budget today. The Sensex declined 63.44 points to 28944.55 and the Nifty fell 17.40 points to 8749.85.

Titagarh Wagons and Container Corporation gained 1-2 percent while Kalindee Rail Nirman, Texmaco Rail and Kernex Microsystem fell 1-2.6 percent ahead of Railway Budget. ICICIdirect believes the Railway Budget 2015-16 will focus on enhancing safety and services by driving better internal generation of resources (fare hike in June 2014 is a step in that direction).

“The hike in railway fares would provide a buffer to the Railway Minister through which he would be able to spend on better amenities for passengers and somewhat enhance IR capacity through capex to improve the operational efficiency of existing network,” the report says.

The sharemarket remained under pressure ahead of expiry of February derivative contracts and Railway Budget today. The Sensex declined 63.44 points to 28944.55 and the Nifty fell 17.40 points to 8749.85. The broader markets declined too; the BSE Midcap and Smallcap indices lost 0.2 percent each. About 830 shares have advanced, 1067 shares declined, and 177 shares are unchanged on the BSE.

Neelkanth Mishra, Credit Suisse says in the last ten days, the refrain “Budget will disappoint” has been heard often, tempering some of the high expectations. However, both the earlier excitement and the reversal have been rather vague in terms of concrete expectations, he adds. “We expect a growth-boosting stimulus: a rise in non-defence capex & believe an FRBM push-out, if for the right reasons would not hurt yield much,” Mishra says.

Coustery : http://www.moneycontrol.com/news/local-markets/nifty-slips-aheadfo-expiry-rail-budget-sesa-gains_1314240.html

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