Nifty Index plunges to 22,550, IT Stocks on down trail 2.6% and PSU stocks shows turbulence
This decline also resulted in the index departing from the 22,800 level, which had been a significant support for the index over the previous eight to ten trading sessions.
Nifty Index plunges to 22,550, IT Stocks on down trail 2.6 and PSU stocks shows turbulence
The previous trade session concluded with the Nifty 50 closing 3,481.45 points below its record high of 26,277.35. The GIFT Nifty is suggesting that Indian markets will open with a gap down. India’s equity markets remain under duress with the Nifty 50 index declining as much as 1% or over 200 points on Monday.
This decline also resulted in the index departing from the 22,800 level, which had been a significant support for the index over the previous eight to ten trading sessions.
Healthcare Global, Bharti Airtel, Vedanta, Bajaj Housing Finance, BSE, CDSL, Paisalo Digital, Ujjivan Small Finance Bank, RVNL, Lupin, Adani Green Energy, Niva Bupa, Ami Organics, Brigade Enterprises, RailTel, Allcargo Logistics, Granules India, Zaggle, and SRF are among the stocks that are currently under consideration.
All 10 equities in the Nifty IT index are trading with losses, resulting in a 2.6% decline in the index.
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Among the public sector, shares of newly listed state-run company NTPC Green Energy Ltd., a subsidiary of NTPC Ltd., fell as much as 6%, below the mark of Rs 100, on Monday, February 24, as its shareholder lock-in ends in today’s trading session.
Shares of renewable energy company NTPC Green Energy declined over 7% on Monday, February 24, as the shareholder lock-in period ends. The stock falls by 7.31% to Rs 97.83 apiece on the National Stock Exchange (NSE) at 9:27 am.
The three-month shareholder lock-in period ended on Monday, making up to 18.33 crore equity shares eligible for trading. NTPC Green Energy shares were listed at a 3.33% premium over the issue price of Rs 108 on the BSE in November 2024. On the NSE, it debuted at Rs 111.5, up 3.24%.
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