The PSU stocks led to a decline in the benchmarks Sensek and Nifty, with the Sensex losing over 450 points. The Bank Nifty also fell below 45,000 and the PSU Bank Index fell over 3%. This decline was not limited to banking names as railway feeders like RVNL, IRFC, IRCTC and BEML saw declines of 8-10%. Feeder sectors like SJVN, NBCC and NHPC also experienced declines of 10-20%. However, defensive players in the IT and pharmaceutical sectors were among the biggest gainers.

Stocks in focus include Hero Moto Corp, Divi’s Labs and Honasa Consumers after Q3 earnings, with brokerages adjusting their targets for these counters. Despite this decline, there were some positive gains made by defensive players in the IT and pharmaceutical sectors.

Brokers discussed the highlights of the trading day on The Closing Bell. They pointed out that while PSU stocks led to a decline in the benchmarks Sensek and Nifty, there were some positive gains made by defensive players in certain sectors. They also noted that there was a lot of volatility in certain sectors such as railways and feeder industries.

By Editor

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