Railway stocks down up to 9%

  • IANS
  • Stock Market News
Railway stocks down up to 9%

New Delhi, Jan 23 (IANS) Railway stocks are sharply down in trade on Tuesday after a recent run up.Railtel (NS: RAIT ) is down 9.5 per cent at Rs 401.40 on BSE. Ircon is down 9.4 per cent at Rs 241.95. Rail Vikas Nigam (NS: RAIV ) is down 7.25 per cent at Rs 297. Rail Vikas Nigam stock is close to its lower circuit of 10 per cent.

RITES (NS: RITS ) is down 7.3 per cent at Rs 581. Texmaco Rail is down 6.8 per cent at Rs 202. IRCTC (NS: INIR ) is down 4 per cent.

Zee Entertainment (NS: ZEE ) is down 9.9 per cent after Sony called off the merger.

Sensex is down 120 points at 71,303 points. HDFC Bank (NS: HDBK ) is down 2 per cent, Asian Paints (NS: ASPN ) is down 2 per cent, Hindustan Unilever (NS: HLL ) is down 2 per cent.

Deepak Jasani, Head of Retail Research, HDFC Securities said Nifty ended the extended week on January 20 with a fall of 1.47 per cent to close at 21,571.80.

Nifty has formed a bearish engulfing pattern on the weekly as well as on daily charts, which usually indicates a bearish trend reversal. It would be advisable to stay cautious unless Nifty surpasses the resistance of 21,852. Support for the Nifty is seen at 21,449 and 21,150.

--IANS

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