SENSEX & NIFTY shares closed higher on all-round buying and presentation of the railway budget, which heightened market expectations about the general budget, which will be tabled on Feb 29, analysts said.

The SENSEX close in positive note of 155.62 points, or 0.88 pct, at 17,806.19 and the Nifty closed up 69.35 points or 1.33 pct at 5,270.05.

Mainly logistics and engineering companies have gained as the railway budget proposals were seen as favorable by the market, dealers said.

Among these gainers were state-run entities BEML Ltd and Container Corporation of India Ltd (CONCOR) and KK Birla Group firm Texmaco Ltd.

BEML closed up 3.09 pct at 1,148.95 rupees and Texmaco closed up 1.58 pct at 1,612 rupees on the BSE as the budget proposed new steel coaches.

CONCOR was up 0.29 pct at 1,720 rupees as the budget proposed the state-owned company should set up depots across India.


Other gainers include developer of special industrial zones Mundra Port and Special Economic Zone Ltd, which was up 3.86 pct at 735.05 rupees and Tata Power Company Ltd, which owns a power plant at Mundra. It closed up 3.94 pct at 735.60 rupees on the BSE, owing to an announcement that a special rail link would connect Mundra port with the national rail network.

Among BSE-30 shares, 18 advanced led by cement maker Grasim Industries Ltd, which closed up 5.06 pct at 3,042.70 rupees. The rest of the BSE-30 shares fell, led by telecom services company Bharti Airtel Ltd, which closed down 1.38 pct at 838.80 rupees.

Power equipment company Bharat Heavy Electricals Ltd (BHEL) closed up 4.58 pct at 2,180 rupees as the company said it won a 10.75 bln rupee order from a domestic electricity generation utility.

CNX Nifty-50 shares were led by Suzlon Energy Ltd, which closed up 6.16 pct at 314.50 rupees and losers on the index were l;ed by Bharti Airtel Ltd, which closed down 1.19 pct at 840.05.

If you enjoyed this post, make sure you subscribe to my regular Email Updates!