Market Now: Power stocks under pressure; NTPC, Tata Power, BHEL among losers

NEW DELHI: Most power stocks were trading in the negative territory in Monday's trade, keeping the sectoral index down.

The BSE Power index was trading 0.87 per cent down at 2,088 around 12:25 pm.

Shares of KEC International, Adani Power and JSW Energy cracked up to 4 per cent in the power index.

Torrent Power, PTC India, CG Power and Industrial Solutions and Adani Transmission declined over 2 per cent.

BHEL (down 1.89 per cent), CESC (down 1.63 per cent), Tata Power Company (down 1.61 per cent), Suzlon Energy (down 1.58 per cent), Reliance Power (down 1.33 per cent), GMR Infrastructure (down 1.15 per cent), NTPC (down 0.93 per cent), ABB India (down 0.67 per cent) were also among the losers in the index.

However, shares of NHPC (up 0.96 per cent), Siemens (up 0.77 per cent), Reliance Infrastructure (up 0.29 per cent) and Power Grid Corporation of India (up 0.16 per cent) were in the green.

Market sentiment was subdued on selling in most sectors, led by metal, pharma, realty and auto.

Surging oil prices and falling rupee hit market mood.

Benchmark BSE Sensex was 170 points down at 34,678, while the NSE Nifty50 index was down 61 points at 10,535.

In the Sensex index, 10 stocks were in the green, while 21 were in the red.

Dr Reddy's Labs, YES Bank, Sun Pharma and Hero MotoCorp were among the top losers in the Sensex index.

However, TCS, State Bank of India and Coal India were leading the pack of Sensex gainers.