Railway Minister Prabhu, gave a popular budget for passengers with no fare hike, cleanliness, new toilets and modernization plans.. Made citizens happy with announcements, what we have to watch in coming years is implementation of these announcements.
But, market sentiment clearly indicated that industry is not happy with the budget. Increase freight charges for ferrying cement (2.7 percent), coal (6.7 percent) and slag (2.7 percent) is expected and assumed to hit profit margin on industries if they cannot pass it on to the end users.
Sensex closed 0.9% or 261.34 points lower at 28,746.65 points, while NSE’s Nifty closed 0.95% or 83.40 points lower at 8,683.85 points.
Almost all Sectoral indices closed negative; BSE Auto (-1.4%), BSE Capital Goods (-1.3%) and BSE Healthcare (-1.17%) were among the major losers. Among Sensex scrips, Bhel (-3.47%), Sun Pharma (-2.85%) and Infosys (-2.53%)ended lower.
Now eye is on Union Budget on 28th Feb’2015..
Market experts are epecting it to be a popular and industry booster.