State-Run Stocks Recover as PSU Index Bounces Back from Previous Session's Dip

13 Feb 2024 , 03:33 PM

Stocks of state-run companies rebounded on February 13, recovering from a significant correction observed in banking and railway shares during the previous session.

At around 11 am, the BSE PSU Index showed a 1.6% increase, trading at 17,851. On February 12, the index experienced a 1.7% fall, marking its sharpest drop since January 23.

PSU stocks, including Life Insurance Corp of India, Indian Oil Corp Ltd, NHPC, NTPC, and ONGC, were significantly impacted on February 12. A day later, LIC traded at ₹1,012.55 (-0.89%), Indian Oil Corp Ltd at ₹175.70 (+0.17%), NHPC at ₹86.25 (+6.4%), and ONGC at ₹261 (+1.2%).

Among railway stocks, IRFC gained over 11%, trading at ₹148.75. RVNL also saw a gain of over 10%, reaching ₹252.80, while IRCON gained 8%, reaching ₹210.80.

The benchmark Nifty 50 had a subdued start, trading at 21,733.85, approximately 0.55 % higher than the February 12 close. The BSE Sensex traded at 71,523.44, around 0.66% higher.

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