Live IPO News: Stay Updated with Stock and Share Market News, Economy and Finance News, Sensex, Nifty, Global Market, NSE, BSE

Indian Stocks Fall on PSU Bank Woes and Q3 Earnings Reports

The fall of PSU stocks has led to a decline in the benchmark Sensex and Nifty. The Sensex lost over 450 points, while the Nifty Bank fell below 45,000. The PSU Bank index also saw a decrease of over 3%. This drop was not limited to banking names alone, as rail PSUs like RVNL, IRFC, IRCTC, and BEML experienced decreases of 8-10%, while power PSUs like SJVN, NBCC, and NHPC faced decreases of 10-20%. However, defensives in the I.T. and pharma sectors were among the top gainers.

The trading day saw several stocks come into focus after their Q3 earnings reports. Hero Moto Corp and Divi’s Labs were among these counters, with brokerages adjusting their targets for these companies. Other companies that stood out included Honasa Consumers.

Nandita Khemka and Yatin Mota discussed the highlights of the trading day on Closing Bell.

Leave a Reply

Workers at a Siberian shipyard endure harsh subzero temperatures to continue their work. Previous post Braving the Extreme: ‘Vymorozka’ Workers in Yakutia, Russia.
First Turkish Astronaut Returns from 3-Week Mission to International Space Station and Receives Hero’s Welcome Next post Turkey’s First Astronaut Returns from Space, Sparking National Pride and Future Aerospace Opportunities.