Saturday, November 7, 2009

PSU investors richer by Rs 26,000 crore in a single day

The market capitalisation of public sector companies jumped by a near Rs 26,000 crore today bouyed by positive sentiment after the government's decision to divest 10 per cent stake in all publicly traded firms.

The total market capitalisation of the 48 listed PSUs on the Bombay Stock Exchange's PSU index soared by Rs 25,956 crore to Rs 15.76 lakh crore in a single day.

On Wednesday, the market valuation of these firms stood at Rs 15.51 lakh crore.

Shares of public sector firms were in demand on counters. Out of 48 companies in the BSE's PSU Index, 41 ended in the green, while 7 firms bucked the trend and closed in red.

Rashtriya Chemicals & Fertilizers led the gain among PSU stocks and ended the trade at Rs 65.90, up 12.17 per cent from its previous close.

According to market analysts, the rise in PSU investor wealth has been due to the upbeat investor sentiment on government's decision to divest 10 per cent stake in the listed PSU entities.

Hindustan Copper advanced 9.98 per cent to close at Rs 233.05 and oil major Gail India gained 6.89 per cent to close at Rs 367.90 on the BSE.

The BSE's PSU Index gained 139.31 points or 1.67 per cent to close at 8,463.77 points today.


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