The market capitalisation of public sector companies jumped by a near
Rs. 26,000 crore on Thursday bouyed by positive sentiment after the government's decision to divest 10 per cent stake in all publicly traded firms.
The total market capitalisation of the 48 listed PSUs on the Bombay
Stock Exchange's PSU index soared by
Rs. 25,956 crore to
Rs. 15.76 lakh crore in a single day.
On Wednesday, the market valuation of these firms stood at Rs. 15.51 lakh crore.
Shares of public sector firms were in demand on counters. Out of 48 companies in the BSE's PSU Index, 41 ended in the green, while 7 firms bucked the trend and closed in red.
Rashtriya Chemicals & Fertilizers led the gain among PSU stocks and ended the trade at Rs. 65.90, up 12.17 per cent from its previous close.
According to market analysts, the rise in PSU investor wealth has been due to the upbeat investor sentiment on government's decision to divest 10 per cent stake in the listed PSU entities.
Hindustan Copper advanced 9.98 per cent to close at Rs. 233.05 and oil major Gail India gained 6.89 per cent to close at Rs. 367.90 on the BSE.
The BSE's PSU Index gained 139.31 points or 1.67 per cent to close at 8,463.77 points on Thursday.