Mixed Market Performance as PSU Stocks Drive Sensex, Nifty Decline: Analysis and Insights from Trading Day on Closing Bell”.

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Nandita Khemka and Yatin Mota discussed the highlights of the trading day on Closing Bell, which saw PSU stocks causing a drop in the benchmark Sensex and Nifty. The Sensex lost over 450 points, while the Nifty Bank index fell below 45,000. Additionally, rail PSUs like RVNL, IRFC, IRCTC, and BEML dropped by 8-10%, while power PSUs like SJVN, NBCC, and NHPC experienced decreases of 10-20%.

Despite this decline not being limited to banking names alone, there were some gainers in the I.T. and pharma sectors. Defensives in these sectors have been among the top performers. Stocks in focus include Hero Moto Corp, Divi’s Labs, and Honasa Consumers after their Q3 earnings. Brokerages have adjusted their targets for these counters based on their performance.

The trading day also saw some changes in brokerages’ recommendations for certain stocks. For instance, some brokerages upgraded their ratings for ICICI Bank after its Q3 results showed strong growth potential. Meanwhile, others downgraded their recommendations for NTPC after its Q3 results failed to meet expectations.

Overall, the trading day was marked by a mix of gains and losses across various sectors and stocks. While some sectors like I.T. and pharma performed well, others like banking and energy struggled to maintain their momentum. With uncertainties around global economic trends and political developments continuing to loom over markets worldwide

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