Sensex falls 235 points after Railway Budget announced

February 26, 2013 19:03
Sensex falls 235 points after Railway Budget announced

Sensex fell sharply by 235 points after the extra burden from the increased freight charges by Railway Budget which was announced today by Railway Minister Pawan Kumar Bansal.

The budget which started lower there were 234.72 more points lost by after noon 1:30 pm which is 1.21 percent down pegging at 19,096 at the end of the day. Nifty of the National Stock Exchange also saw a drop of 70.95 points, proportionately equal to BSE's benchmark. It ended at 5,783.80.

With the 5% additional freight fare with the hike by the government in the rail budget 2013, the corporate earning could have taken a beating.

Railway Minister for the first time announcing a Rail Budget, caused share prices of companies catering to railways come under pressure.

(AW- Anil)

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