Market moves into red region on profit booking by retail investors. Modi Sarkar’s Railway budget to determine the direction of market.
Nifty loses 17 points with 18 advances and 32 declines. Sensex loses 50 points with 9 advances and 21 declines. Indices such as Metals and Realty plunges. Safe Pharma stocks pulls up the Pharma Index.
Berger paints gains more than 6%. CRISIL gains 5%. Pharma giant Sun pharma gains 3%. Private bankers IndusInd Bank and KOtak Mahindra Bank gains more than 1%.
Indian Bank, Future Retail and Pipavav defence have lost more than 2% on the current trading session. UltraTech cement and Powergrid also moves into red on profit booking trend.
Debt-laden Reliance communication plans to reduce the workforce by 5000 and plans to outsource.
Railway related stocks in focus.