PSU Stocks back on trail, top PSU stocks listed on Nifty index

Shares of public-sector undertaking (PSU) companies are countered back on pavilion amid plundering harshly a couple of days before, the post-PM Modi oath-taking ceremony for the consecutive third time.

The top gainers on Nifty50 were Power Grid, State Bank of India, and NTPC. Power Grid led gains in the 50-stock index, trading 3.6 percent higher at Rs 320.35 on the NSE. SBI shares were up around 1 percent at Rs 836.65 per share, and NTPC rose one percent to Rs 367.35 on the NSE.

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The BSE PSU index was also among the major sectoral gainers and went up to one percent today.

The return of the BJP to power has led to major Public stocks boasting of their potential immensely.

Meanwhile, Sensex crossed the 77,000 mark, rallying consecutively for the fourth session as there was optimism in the stock market following the Reserve Bank of India (RBI) revising GDP growth projection to 7.2 percent for 2024-25 from 7 percent earlier.

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Subsequently, the 30-share BSE Sensex jumped 385.68 points to hit its new record high of 77,079.04 and NSE Nifty climbed 121.75 points to hit its lifetime peak of 23,411.90. Among the 30 Sensex companies, Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries, and NTPC were the biggest gainers while top laggards were Tech Mahindra, Infosys, Wipro, HCL Technologies, and Titan. 

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