Tag: power index

The Indian benchmark indices have recovered partially from the early morning lows on the back of selective buying interest in pharma, realty, and energy shares. The Sensex, which, touched a low of 59,149, was down around 290 points at 59,376 in mid-morning deals today(29th Sept.2021). The NSE Nifty recovered from a low of 17,608 and was down 76-odd points at 17,673. Lupin and Dr.Reddy's are the major gainers up 3.1 percent and 2.5 percent respectively. Sun Pharma, Torrent Pharma, and Biocon are the other prominent gainers on the NSE. The Power index has logged smart gains for the second straight day on the back of follow-up buying in power majors - NTPC and PowerGrid Corporation. Tata Power, CESC, and Adani Power too have logged strong gains.

Shares of power generation and distribution companies have rewarded investors handsomely over the past two months with returns of Reliance Infrastructure, JSW Energy, Adani Power, Power Grid Corporation, NTPC, Tata Power, and Torrent Power ranging between 8 percent and over 90 percent. In comparison, the frontline Sensex index has advanced around 6 percent while the BSE Power Index added 17 percent during the period, ACE Equity data show. On Tuesday, the S&P BSE Power index hit a 10-year high of 3,008, a level last seen in January 2011, in intra-day trade. Among individual stocks, Adani Power hit a record high of Rs 151, soaring 19 percent in intra-day trade on Tuesday, on the back of heavy volumes while Torrent Power and Tata Power gained over 4 percent each on the BSE. In comparison, the benchmark S&P BSE Sensex was down 0.17 percent. Read more