INSUBCONTINENT EXCLUSIVE:
NEW DELHI: Power stocks failed to light up as most of them were in the negative territory during afternoon trade on Wednesday.
The BSE Power
index was trading 2.06 per cent down at 1,929 around 12:50 pm with all components trading with losses.
CG Power and Industrial Solutions
(down 6.85 per cent), JSW Energy (down 6 per cent) and Adani Transmission (down 5.68 per cent) were the top losers in the power
index.
Reliance Infrastructure (down 3.95 per cent), Torrent Power (down 3.88 per cent), Tata Power Company (down 3.73 per cent), Adani
Power (down 3.21 per cent), BHEL (down 2.86 per cent), CESC (down 2.46 per cent) and GMR Infrastructure (down 2.16 per cent) also suffered
significant losses.
Shares of Suzlon Energy, Siemens, Power Grid Corporation of India and NTPC declined up to 2 per cent.
NHPC (down 0.61
per cent), KEC International (down 0.27 per cent), ABB India (down 0.22 per cent) and Thermax (down 0.16 per cent) were trading with
comparatively smaller losses.
Weak global cues, surging crude oil prices and a lack of fresh positive trigger at home were keeping the
domestic equity market down.
Investors were restricting their bets ahead of the expiry of June series of future and option contracts
tomorrow.
Benchmark BSE Sensex was 89 points down at 35,401, while the NSE Nifty50 index was down 44 points at 10,726
Among the 50 stocks in the Nifty index, 13 were trading in the green, while 37 were in the red.
In the Sensex kitty, 8 stocks were
advancing, while 22 were declining in trade.
