Expectations of muted expenditure on railway infrastructure and the assumption that there would be no further fare hikes may have contributed to the fall, according to analysts.
The railway minister said the target of 700 km of new lines in the current year (2012-13) had to be scaled down to 470 km due to inadequate resources.
Konkan Railways' Anti Collision Device is the first device of its kind in the world
Railways Minister Sadananda Gowda will present his maiden Rail Budget on July 8 in Parliament.
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Most of the railway-related stocks, which had seen smart gains in the past few days ahead of the Rail Budget, saw profit-booking as Railway Minister Sadananda Gowda presented the Budget.
Sensex was up 184 points at 25,580 and the Nifty added 71 points to end the day at 7,654
Experts caution that the rally in these stocks may fizzle out soon, as the overall market sentiment still remains weak.
Sensex slumped 518 points to end the day at 25,582 and the Nifty slipped 164 points to close at 7,623.
RBI's fifth bi-monthly monetary policy meet due tomorrow also kept the investors on their toes.
TCS, ICICI Bank, Sun Pharma,Tata Motors and HDFC among the top losers for the day
The broader markets also ended lower in line with the benchmark indices
For the seven months since February 2014, the benchmark index surged nearly 27%.
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