Crowded Indian train
Crowded Indian trainReuters

Indian shares plunged around 2 percent on Tuesday - the Budget presentation day by Railway Minister Sadananda Gowda. BSE and NSE indices recorded their biggest single day fall in over 10 months.

According to Reuters, the broader NSE index fell 2.11 percent and the benchmark BSE lost 1.98 percent, which is biggest single-day fall since 3 September 2013.

The Sensex on Tuesday closed at 25582.11 points, with a loss of 517.97 points, and Nifty fell by 163.95 to settle at 7623.20 points. 10 other Indian stock indices also depreciated.

The BJP government proposed foreign direct investment (FDI) for improving rail infrastructure. But Indian stock market member Jagdish Malkani contradicted the idea of FDI in railways.

"I am sorry to be a party pooper, but this 100% FDI seems like a real stretch. The Prime Minister downwards is very interested in bringing the railways up to speed - there were statements pertaining to making them like airports. But, for that to happen, FDI has to play a key role," The Economic Times quoted Malkani.

"But these are large leaps. I am not sure if 100% is credible. They will clearly lay out some road map; so let's have a look at that first," he added.

Majority of rail stocks slumped during trading on Tuesday, amid rail budget presentation by the Narendra Modi-led government.

Here is the list of a few railway sector-related stocks, which depreciated on the memorable day of budget presentation:

Name Symbol Last traded price in ₹ Change in ₹ 52 week High in ₹ 52 week Low in ₹
Voltamp Transformers Ltd VOLT 691.50 +7.90 740 301.25
Hind Rectifiers Ltd HRCT 59.20 +2.80 66.75 28.30
Texmaco Rail & Engineering Ltd TEXA 116.80 -28.95 150 26
Nitin Fire Protection Industries Ltd NIFP 70.50 -4.95 79.80 49.10
BEML Limited BEML 774.95 -40.75 877.70 106
Kalindee Rail Nirman Engineers Ltd KALL 128.55 -6.75 141 50.80
Titagarh Wagons Ltd TITW 314.45 -16.55 338.90 69.25
ARSS Infrastructure Projects Ltd ARSS 67.30 -2.25 71.20 14.50
Kernex Microsystems Ltd KMIL 69.85 -3.65 80 29
Stone India Ltd STON 45.55 -2.35 50 14
Bartronics India Ltd BARI 14.15 -0.45 15.60 4.90
Container Corp of India CCRI 1265.90 -77.90 1410 634
Siemens Ltd SIEM 940 -43.80 1010 414
Reliance Industries Infrastructure Ltd REII 580.80 -47.05 658.40 278.15
Hindustan Construction Company ltd HCNS 44.65 -2.35 49.05 7.70
Larsen and Turbo LART 1672.45 -76.90 1776.60 677.15
Timken India Ltd TIMK 282.20 -21.85 332 148
Gateway Distriparks Ltd GATE 240.60 -4.70 253 98.15
All Cargo Logistics ACLL 247.25 -13 271.80 59.45
Kernex Microsystems KMIL 69.85 -3.65 80 29
Hind Rectifiers Ltd HRCT 56.25 -2.95 66.75 28.30
MIC Electronics Ltd MELC 6.35 -0.05 8.10 1.75

At 11am on Tuesday, FMCG, Capital Goods and Healthcare stocks appeared surging but by the end of the trading day, even they fell. Hence, all Indian stock indices declined on rail budget day.

However, top gainers from BSE were Polychem, Lakshmi Precision Screws, Maan Aluminium, GG Dandekar Machine Works and Super Crop Safe Ltd, whereas, top losers were Texmaco Rail & Engineering, Texmo Infracstructure, Precision Wires India, Kolte Patil Developers and Jindal Stainless Limiited.

World Markets

Most world markets indices too slumped on Tuesday. At 5:30pm, Asian stock index Nikkei and Hang Seng fell by 65.03 points and 9.05 points. In the meantime, US-based stocks DOW, S&P 500, NASDAQ and TR US Index also plunged by 44.05 points, 7.79 points, 34.40 points and 0.93 points respectively.

Among European markets, FTSE 100, DAX, CAC 40 and TR Europe depreciated by 39.06 points, 53.19 points, 22.63 points and 1.02 points respectively.