Market Now: Power stocks falter; Adani Transmission tanks over 5%

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NEW DELHI: Most power stocks were experiencing the heat of selling in afternoon trade on Friday.

The BSE Power index was trading 0.71 per cent down at 2,121 around 12:45 pm.

Adani Transmission (down 5.43 per cent) was the top loser in the power index.

It was followed by GMR Infrastructure (down 2.96 per cent), CG Power and Industrial Solutions (down 2.93 per cent), Adani Power (down 2.67 per cent) and Suzlon Energy (down 2.47 per cent).

Torrent Power, Siemens, Reliance Power, KEC International, Tata Power Company, NTPC and BHEL declined up to 1 per cent.

Meanwhile, NHPC (up 0.95 per cent), PTC India (up 0.78 per cent), Reliance Infrastructure (up 0.57 per cent) and CESC (up 0.14 per cent) were trading with mild gains.

Shares of Power Grid Corporation of India were almost flat around the same time.

Equity benchmarks were in the negative territory on unabated foreign fund outflows and surging global crude oil prices.

Benchmark BSE Sensex was 157 points down at 34,992, while the NSE Nifty50 index was down 44 points at 10,639.

In the Sensex index, 8 stocks were advancing, while 23 were declining.

Tata motors, Adani Ports, Sun Pharma, ICICI Bank and Wipro cracked over 2 per cent in the Sensex index.

Source: Economic Times