February 24, 2024 1:40 pm
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The decline in PSU stocks has caused a drop in the benchmark Sensex and Nifty, with the Sensex losing over 450 points. The Nifty Bank index has also fallen below 45,000, while the PSU Bank index has seen a decrease of over 3%. However, not all sectors have been affected equally. In fact, rail PSUs like RVNL, IRFC, IRCTC, and BEML have seen drops of 8-10% each, while power PSUs like SJVN, NBCC, and NHPC have experienced decreases of 10-20%. Despite this decline, some sectors have remained relatively stable. Defensives in the I.T. and pharma sectors have been among the top gainers.

As a result of this decline in stock prices, several companies are now among the focus for investors. Stocks such as Hero Moto Corp, Divi’s Labs, and Honasa Consumers are being closely watched after their Q3 earnings were announced. Brokerages have adjusted their targets for these counters based on their performance.

Nandita Khemka and Yatin Mota discussed the highlights of the trading day on Closing Bell. They noted that despite some concerns about inflationary pressures on corporate earnings and rising oil prices due to geopolitical tensions in the Middle East region

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