The markets have started trading on the Railway Budget day on a tentative note, with key benchmark indices in the negative terrain.
The Indian Railway Budget will be presented around 1100 hrs. today in the Parliament.
The Sensex slipped over 100 points to a low of 28,900. In the process, the BSE index seems to have taken support around the daily Fibonacci S-1 at 28,890-odd levels.
Going ahead, the bias for the rest of the day may be cautiously positive as long as the BSE index manages to sustain above 28,900-odd levels.
On the upside, the Sensex may look to bounce back into the positive zone and test a high around 29,125-odd levels.
On the other hand, in case, the BSE index breaks the support at 28,900, the index can drop to 28,820-odd levels.
Sun Pharma and Bajaj Auto are the major losers - down 1.7 per cent each at Rs. 876 and Rs. 2,145, respectively.
Infosys, Hindalco and Axis Bank are down a per cent each among the Sensex 30 stocks.
On the positive front, Sesa Sterlite has surged 1.7 per cent to Rs. 214.
BHEL and ONGC are the other notable gainers.
The Indian Railway Budget will be presented around 1100 hrs. today in the Parliament.
The Sensex slipped over 100 points to a low of 28,900. In the process, the BSE index seems to have taken support around the daily Fibonacci S-1 at 28,890-odd levels.
Going ahead, the bias for the rest of the day may be cautiously positive as long as the BSE index manages to sustain above 28,900-odd levels.
On the upside, the Sensex may look to bounce back into the positive zone and test a high around 29,125-odd levels.
On the other hand, in case, the BSE index breaks the support at 28,900, the index can drop to 28,820-odd levels.
Sun Pharma and Bajaj Auto are the major losers - down 1.7 per cent each at Rs. 876 and Rs. 2,145, respectively.
Infosys, Hindalco and Axis Bank are down a per cent each among the Sensex 30 stocks.
On the positive front, Sesa Sterlite has surged 1.7 per cent to Rs. 214.
BHEL and ONGC are the other notable gainers.
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