Public sector undertakings (PSUs) have so far had a rough day on the stock market, with the BSE PSU index shedding 68.41 points or 0.36 per cent to 19,041.86 at 12:22 PM. Similarly, the Nifty PSU Bank index declined by 0.32 per cent to 6,609.25 points on NSE.
The drop was driven by widespread selling pressure in key PSU stocks. Heavyweights such as BEL -10.25 points, GAIL -7.18 points, and REC Ltd -6.78 points were among the top losers, significantly dragging down the BSE PSU index.
Other major contributors to the decline included PFC by 6.59 points, ONGC by 5.19 points, Coal India by 4.83 points, and NMDC by 4.12 points. These losses collectively weighed on the BSE PSU index.
Despite the downturn, a handful of PSU stocks managed to buck the trend. PNB, NLC India, Cochin Shipyard, Concor, and NTPC recorded gains, with NTPC posting a notable rise of 4.15 points.
Meanwhile, BSE Sensex rose 260.26 points or 0.33 per cent to 78,732.74, while the NSE nifty gained 106.60 points or 0.45 per cent to reach 23,857.800.45 at 12.22 PM.
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Published on December 27, 2024
https://www.thehindubusinessline.com/markets/stock-markets/psu-stocks-tumble-dragged-down-by-heavyweights/article69032661.ece
