Markets flat ahead of Rail Budget

The Sensex is at 16,274, down 12 points. The NSE Nifty is at 4,886.
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(Updated at 1032hrs)

The markets are swinging between zones in morning trades ahead of the Railway Budget. The Sensex is now down two points at 16,284. The NSE Nifty is down three points 4,967.

Interestingly, railway related stocks have gained this morning in the range of 2% to 3% after exhibiting weakness in the last two trading days.

Titagarh Wagons, Texmaco, Stone India, Kernax Microsystems and Hind Rectifers are up 2-3% each on the BSE.

The industry chambers are seeking greater public-private participation (PPP) in the expansion of railway infrastructure and upgradation of technology.

Auto and metal stocks are trading on a weak note.

Mahindra & Mahindra and Tata Motors have slipped around 2% each to Rs 960 and Rs 686, respectively.

Tata Steel, Hero Honda, Reliance Communications and Bharti Airtel are down over 1% each.

Tata Power and Larsen & Toubro are up nearly 1% each.

Reliance, TCS and Infosys are the other notable gainers.

The market breadth is fairly negative - Out of 2,338 stocks traded so far, 1,402 have declined and 852 have advanced.