General Elections 2024 Results: PSU stocks tumble as early trends show mixed results; BSE PSU down 8%
SJVN leading the losses with a decline of 10%, followed by HUDCO with a 7% drop.Other stocks, including Ircon International, GAIL (India), NHPC, Bharat Dynamics, General Insurance Corporation, National Aluminium Company, REC, Union Bank of India, Punjab National Bank, UCO Bank, Bank of Maharashtra, Bank of Baroda, Life Insurance Corporation, and Bharat Heavy Electricals, are all experiencing declines ranging from 5.5% to 7%.Furthermore, the Nifty PSU bank index witnessed a nearly 7% tumble, while the Nifty PSE and Nifty CPSE indices are trading with drops of 6.90% and 6.77%, respectively.Likewise, BSE Power also erased the majority of its Monday gains and is trading with a drop of 6.13%. Meanwhile, the BJP-led NDA on Tuesday surged ahead with leads in more than 200 parliamentary seats out of 350 for which trends were available, with the opposition INDIA bloc ahead in 120, according to television reports.On Tuesday, the BJP-led NDA surged ahead with leads in over 200 parliamentary seats out of the 350 for which trends were available, while the opposition INDIA bloc led in 120 seats, according to reports from television channels.The previous day, the BSE benchmark witnessed a remarkable surge, gaining 2,507.47 points, or 3.39%, and settling at a new closing peak of 76,468.78, marking its most substantial single-day increase in three years.
Throughout the day, the barometer skyrocketed by 2,777.58 points, or 3.75%, to achieve a record intra-day high of 76,738.89.Similarly, the NSE Nifty experienced significant gains, climbing 733.20 points, or 3.25%, to close at 23,263.90. In intra-day trading, it surged by 808 points, or 3.58%, to establish a fresh all-time high of 23,338.70.Disclaimer: The views and recommendations given
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