The benchmark Sensex and Nifty saw a significant fall, with PSU stocks coming under pressure. The Sensex dropped over 450 points, and the Nifty Bank fell below 45,000. The PSU Bank index also experienced a crack of over 3%. However, the decline was not limited to banking names. Rail PSUs like RVNL, IRFC, IRCTC, BEML saw an 8-10% drop, while Power PSUs like SJVN, NBCC, and NHPC were down by 10-20%.
On the other hand, defensives like I.T. and pharma were among the top gainers for the day. The stocks in focus included Hero Moto Corp, Divi’s Labs, and Honasa Consumers following their Q3 earnings and brokerages adjusting their targets for these companies.
Nandita Khemka & Yatin Mota discussed the trading day’s highlights on Closing Bell. It was an eventful day with a triple-digit fall in Nifty and smallcaps bleeding, while PSUs cracked. The impact was felt across various sectors, and it was interesting to see how different companies performed in this environment.