Railway Budget has given postive push to the stock markets. Lalu's budget has laid stress on infrastructure and technology upgradation and this has seen several stocks gaining points, particularly of those companies which manufacture goods used by the Railways. BSE's Sensex closed 155.62 points higher at 17,806.19. It reached a high of 17,860.10 and low of 17,678.74 . NSE's Nifty closed 50.35 points or 0.95 per cent higher at 5,250.35 after reaching a high of 5281.20 and low of 5200.80.
Nitin Fire (up 6.53 %), MIC Electronics (7.06 %), Bartronics (7.99 %) were amongst the top gainers in the smallcaps which would reap benefit from the budget. Jindal Stainless (7.19 %), Gateway Distriparks (6.28%) and Bharat Bijlee (5.11%) are the major gainers in the midcaps which would profit from the railway budget. Freight rate cut of 5% on petrol and diesel made oil marketing companies end firm.
Lalu's endeavor to use technology for upgrading services of the Railways has made the software industry happy. However the IT initiatives announced in the Rail Budget would not really impact the top five companies in this sector much, as they are more dependent on overseas contracts. Smaller IT companies would gain more from the policies of Lalu.