BSE PSU Index hits all-time high amid Exit Polls

PSU stocks jumped in today’s trading session in anticipation of ongoing strong capital expenditure by the government in key sectors such as railways, defence and power.

The announcement of exit polls, which predicted an important victory for the ruling NDA, boosted investor excitement about PSU  companies, indicating the possibility of Prime Minister Narendra Modi’s third consecutive term in power. The BSE PSU index, which measures the performance of public sector enterprises, increased 6.4% in today’s trade to a new all-time high of 22,233 points.

Today’s trading session witnessed Power Finance Corporation jump by 13.30% to a new all-time high of ₹558 per share, making it the top gainer. REC, a power financing stock, increased by 11.70% to a new record high of ₹600/share. Power Grid Corporation shares gained 12.50% to a record high of ₹348.7 per share.  For the first time, the Power Grid market capitalization surpassed ₹3 lakh crore due to a significant rise.

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