The development holds bilateral significance, as both India and Bangladesh had decided to improve economic ties in a 'win-win' mode during Bangladesh Prime Minister Sheikh Hasina's visit earlier this year.
From the Sensex firms, Kotak Mahindra Bank, Eternal, Asian Paints, NTPC, Bharat Electronics Ltd, Adani Ports, Infosys and State Bank of India were among the major gainers. However, Titan tumbled over 6 per cent. Trent, Axis Bank, Maruti and Hindustan Unilever were also among the laggards.
The cross-border rail project near Tripura's capital Agartala and Akhaura in Bangladesh is expected to boost cross-border trade, and significantly reduce the travel time between Agartala and Kolkata via Dhaka.
Essar Power and GMR are among the global bidders for a 450-Mw dual fuel power project planned by the Bangladesh government at Sirajgonj, about 140 km from Dhaka.
The 30-share Sensex ended down 159 points at 27,425 and the 50-share Nifty closed down 24 points at 8,299.
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Shedding its gains from Monday, NIkkei has declined around 0.7% while Hang Seng and Shanghai Composite were trading marginally lower.
The broader markets are trading inline with the larger peers with BSE Midcap and Smallcap indices up 1.5% each.
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