Shares of public sector undertaking (PSU) companies were in focus as the S&P BSE CPSE index hit an over three-year high following a strong rally in REC, Power Finance Corporation (PFC), Coal India and Power Grid Corporation, which were up 5 per cent in an otherwise weak market.
At 11:14 am, the S&P BSE CPSE Index was up 2.3 per cent, as compared to a 0.45 per cent fall in the benchmark Sensex. The CPSE index was trading at its highest level since June 2018.
The S&P CPSE index is designed to measure the performance of Central Public Sector Enterprises (CPSEs) listed at BSE. CPSEs are companies in which 51 per cent or more of the direct holding belongs to the Central Government of India.
