Titagarh Wagons Ltd, which has risen 183 percent in 2014 compared to the Nifty's gain of 23.65 percent, falls 4.4 percent.

Texmaco Rail & Engineering Ltd is down 1.3 percent and BEML Ltd slumps 3.7 percent.

Any increase in the FY15 outlay for railways compared to 643 billion rupees (USD 10.73 billion) set in the previous budget would be seen as positive, investors say.

Also, any specific mention regarding increase in allocation or procurement for wagons will be positive for wagon manufacturers.

Good buying was observed in healthcare, consumer durables, banking and metal sectors, while selling pressure was seen in IT and technology, media and entertainment (TECK) sectors.

The 30-scrip Sensitive Index (Sensex) of the S&P Bombay Stock Exchange (BSE), which opened at 26,166.92 points, was trading at 26,127.46 points (at 9.26 a.m.) in the early session, up 27.38 points or 0.10 percent from the previous day's close at 26,100.08 points.

The Sensex touched a high of 26,190.44 points and a low of 26,113.23 points in the trade.

The S&P BSE healthcare index went up by 99.12 points, the consumer durables index increased by 53.81 points, the bankex inched up by 46.68 points and the metal index gained by 44.69 points. However, the IT index dropped by 42.65 points and the TECK index slipped by 14.95 points.

The wider 50-scrip Nifty of the National Stock Exchange (NSE) was trading flat at 6.15 points or 0.08 percent up at 7,793.30 points.

Railway Minister DV Sadananda Gowda will later in the day present his maiden rail budget for the current fiscal.

Hoping his budget meet people's expectations, Gowda tweeted, "Going to present my maiden budget as a rail minister of India today. Hope we are able to meet public expectations."

(Agencies)

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