Stock market update: Power stocks up as market falls
Want to take exposure to a sector which grows much faster than GDP
Transformers & Rectifiers(India)Ltd.(up 11.42%), India Power Corporation Ltd.(up 9.92%), PTC India Ltd.(up 7.72%), Inox Wind Ltd.(up 6.84%), Indowind Energy Ltd.(up 4.93%), Jyoti Structures Ltd.(up 4.93%), Inox Wind Energy Ltd.(up 4.60%), Adani Power Ltd.(up 4.50%), NLC India Ltd.(up 4.45%) and Hitachi Energy India Ltd.(up 3.82%) stood among the top gainers.
GE T&D India Ltd.(down 1.70%), Indo Tech Transformers Ltd.(down 1.65%), KEC International Ltd.(down 1.29%), Voltamp Transformers Ltd.(down 0.61%), Power Grid Corporation of India Ltd.(down 0.29%) and JSW Energy Ltd.(down 0.24%) were among the top losers of the day.
The NSE Nifty50 index ended 101.36 points down at 21352.6, while the 30-share BSE Sensex closed down 359.64 points at 70700.67.
Adani Ports & Special Economic Zone Ltd.(up 2.3%), NTPC Ltd.(up 1.92%), Coal India Ltd.(up 1.78%), IndusInd Bank Ltd.(up 1.42%), ICICI Bank Ltd.(up 1.08%), Reliance Industries Ltd.(up 0.69%), Bajaj Finserv Ltd.(up 0.58%), Mahindra & Mahindra Ltd.(up 0.46%), JSW Steel Ltd.(up 0.44%) and Bajaj Finance Ltd.(up 0.43%) stood among the top gainers in the Nifty pack.
On the other hand, Tech Mahindra Ltd.(down 6.11%), Cipla Ltd.(down 3.37%), Bharti Airtel Ltd.(down 2.48%), LTIMindtree Ltd.(down 2.23%), SBI Life Insurance Company Ltd.(down 2.11%), Tata Consumer Products Ltd.(down 1.92%), Divi's Laboratories Ltd.(down 1.78%), Wipro Ltd.(down 1.69%), Asian Paints Ltd.(down 1.68%) and HCL Technologies Ltd.(down 1.66%) closed in the red.
