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This is an archive article published on February 27, 2015

Sensex sinks 261 points as Railway Budget ‘disappoints’

The BSE Sensex resumed higher at 29,051.90 and moved up to 29,069.13 on initial strong buying.

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Stock markets on Thursday came under selling pressure and the Sensex plunged by 261 points after the first full Railway Budget of the Modi government disappointed market participants.

Share prices of companies that cater to the railway sector plunged by up to seven per cent on Thursday after the budget proposals failed to boost investors’ sentiment.

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The BSE Sensex resumed higher at 29,051.90 and moved up to 29,069.13 on initial strong buying. However, it dropped afterwards to 28,693.82 before ending at 28,746.65, showing a loss of 261.34 points of 0.90 per cent. The CNX 50-share Nifty fell by 83.40 points or 0.95 per cent to finish at 8,683.85.

According to dealers, profit-taking in software stocks, the expiry of February derivative contracts and caution ahead of the Budget also weighed on the sentiment.

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