Stock market update: Power stocks down as market rises

Stock market update: Power stocks down as market rises
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Synopsis

The 30-share BSE Sensex was up 364.27 points at 58830.24

Agencies
Mazhar Mohammad of Chartviewindia.in said technical indicators are turning mixed as the weekly MACD chart has generated a 'buy' signal, giving an edge to the bulls.
NEW DELHI: Power stocks were trading lower on Thursday at 10:55AM

JSW Energy(up 4.99%), Indo Tech Transformers(up 2.03%), Adani Transmissions(up 1.93%), Power Grid Corporation of India(up 1.65%), NLC India(up 1.47%), KEC International(up 1.34%), Tata Power Company(up 1.20%), Gujarat Industries Power(up 0.92%), NTPC(up 0.89%) and Inox wind(up 0.56%) were among the top gainers.

GE Power India Limited(down 19.99%), Orient Green Power Company(down 4.95%), Energy Development Company(down 4.91%), Indowind Energy(down 4.89%), Karma Energy(down 4.44%), Hitachi Energy India(down 3.68%), Reliance Power(down 3.53%), Alstom T&D India(down 3.28%), Jyoti Structures(down 3.16%) and RTNPOWER(down 2.42%) were among the top losers.

The NSE Nifty50 index was trading 105.7 points up at 17569.5, while the 30-share BSE Sensex was up 364.27 points at 58830.24 at around 10:55AM.

Oil & Natural Gas Corporation(up 3.05%), HDFC(up 2.12%), Kotak Mahindra Bank(up 1.85%), HDFC Bank(up 1.83%), Tata Steel(up 1.77%), Power Grid Corporation of India(up 1.65%), JSW Steel(up 1.54%), Tata Motors(up 1.41%), Bajaj Finserv(up 1.37%) and Bajaj Finance(up 1.3%) were among the top gainers in the Nifty pack.

On the other hand, Bharat Petroleum Corporation(down 1.5%), Maruti Suzuki(down 1.13%), Coal India(down 0.71%), Bharti Airtel(down 0.67%), Asian Paints(down 0.66%), Hero MotoCorp(down 0.55%), Shree Cement(down 0.5%), Britannia Industries(down 0.45%), Hindustan Unilever(down 0.44%) and ITC(down 0.41%) were trading in the red.

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