PSU stocks lose steam while market holds

NSE PSE index and PSU Bank index down 8% and 11% in a month; commodity-linked firms also hit

Mumbai 

Stocks of public sector undertakings (PSUs) have begun to fall, even as the overall market has managed to hold its own. The PSE index on the National Stock Exchange has lost nearly eight per cent over the past month; the NSE PSU Bank index has dropped 11 per cent. While its benchmark index, the Nifty, has gained 1.5 per cent in this period. State-owned companies in the banking and commodity space have borne the brunt. While the banking sector has been weighed down by bad loans, a fall in global commodity prices has adversely impacted the latter. Bank of India and IDBI Bank ...

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PSU stocks lose steam while market holds

NSE PSE index and PSU Bank index down 8% and 11% in a month; commodity-linked firms also hit

Stocks of public sector undertakings (PSUs) have begun to fall, even as the overall market has managed to hold its own. The PSE index on the National Stock Exchange has lost nearly eight per cent over the past month; the NSE PSU Bank index has dropped 11 per cent. While its benchmark index, the Nifty, has gained 1.5 per cent in this period.State-owned companies in the banking and commodity space have borne the brunt. While the banking sector has been weighed down by bad loans, a fall in global commodity prices has adversely impacted the latter.Bank of India and IDBI Bank are the top losers among PSUs, both down a little over 20 per cent in the past month. Shares of Bharat Heavy Electricals and Power Finance Corporation fell 19 per cent and 18.4 per cent, respectively. Oil and Natural Gas Corporation and GAIL lost 10.4 per cent and nine per cent each.Market participants expect the stocks of state-owned banks to be under pressure in the near to medium term. with the Reserve Bank of ... Stocks of public sector undertakings (PSUs) have begun to fall, even as the overall market has managed to hold its own. The PSE index on the National Stock Exchange has lost nearly eight per cent over the past month; the NSE PSU Bank index has dropped 11 per cent. While its benchmark index, the Nifty, has gained 1.5 per cent in this period. State-owned companies in the banking and commodity space have borne the brunt. While the banking sector has been weighed down by bad loans, a fall in global commodity prices has adversely impacted the latter. Bank of India and IDBI Bank ... image
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