Sat. Mar 2nd, 2024
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Nandita Khemka and Yatin Mota discussed the highlights of the trading day on Closing Bell, including the decline in PSU stocks that caused a drop in the benchmark Sensex and Nifty. The Sensex lost over 450 points, while the Nifty Bank index saw a decrease of over 3%. This decline was not limited to banking names, as rail PSUs like RVNL, IRFC, IRCTC, and BEML saw drops of 8-10%, while power PSUs like SJVN, NBCC, and NHPC experienced decreases of 10-20%. However, defensives in the I.T. and pharma sectors were among the top gainers.

Brokerages adjusted their targets for several counters after their Q3 earnings were released. Stocks in focus included Hero Moto Corp, Divi’s Labs, and Honasa Consumers. The trading day also saw several other companies release their earnings reports.

Overall, the trading day was volatile as investors grappled with uncertainty about global economic conditions and political developments around the world. Despite these challenges, some sectors continued to perform well due to strong fundamentals or government policies aimed at supporting growth.

By Editor

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