Election Results
Public sector stocks take a beating as vote counting progresses
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1 min read | Updated on June 04, 2024, 12:53 IST
SUMMARY
The Nifty PSE index, which returned more than 100% returns over the year till June 3 - is today taking a strong beating (down almost 10% since yesterday) as investors look to book their profits here.
Public sector stocks take a beating as vote counting progresses
The Nifty PSE index, seems to be taking a huge beating in the markets today, falling more than 10% largely due to profit booking. The index comprises 20 stocks, all of which are trading deep in the red. BEL, PFC, and REC are some of the major losers, trading almost 15% lower compared to yesterday.
What is the Nifty PSE Index: The Nifty PSE Index comprises companies in which 51% of outstanding share capital is held by the Central Government and/or State Governments, directly or indirectly (source: NSE).
NIFTY PSE performance on June 4, 2024*
Source: NSE; *June 4 performance is around 11:10 am
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Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.
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