PFC, REC, HAL stocks were among major gainers in October 8 trade as Nifty PSE index advanced over 2 percent on hopes of a strong government and policy continuity amid Bharatiya Janata Party's (BJP) likely historic third term in Haryana. The ruling BJP has crossed the majority mark in the Haryana assembly and was leading on 49 seats.
Nifty PSE index was up 1.6 percent at about 2:20 pm on October 8, with Power Finance Corporation rising 5.25 percent, REC (4.38%), HAL (4.64%), BEL (4.3%) among others.
14 stocks were trading in green in the 20-stock Nifty PSE index. NMDC, Hindustan Petroleum Corporation, Power Grid Corporation were among the laggards today, falling up to 4.54 percent.
Nifty CPSE gained nearly 2 percent with Cochin Shipyard, Bharat Electronics Limited and Oil India leading the pack. Cochin Shipyard stock gained after four days of consecutive fall. In today's trade, it touched an intraday high of Rs 1,640, zooming 4.53 percent.
Railway stocks were also trading higher in trade today. IRFC share price touched an intraday high of Rs 151.65 per share on the NSE, up 5.06 percent. IRCTC stock gained nearly 2 percent.
Shares of Rail Vikas Nigam Ltd today gained after four days of consecutive fall. The stock touched an intraday high of Rs 494.85 apiece on the NSE, rising 9.55 percent.
Indian Overseas Bank, Central Bank of India were among the major gainers in the PSU Bank today.
Policy continuity has played a key role in boosting investor sentiment, as the BJP reversed many of the setbacks it faced in the Lok Sabha election results a few months ago. Furthermore, the party has emerged as the single largest national party in Jammu & Kashmir.
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