Nifty CPSE in the previous day's outperformed the headline indices with gains of 4% while the trend remained more or less same on the PSE pack too with gains of 3 percent. In fact the run up in the public sector stocks has been the best in last 4 years on hopes of speedy privatization on one end. Another reason for the higher price of these stocks is that as the economies are making a comeback from the slowdown, demand for the various commodities is pushing the price of different metals higher i.e. impacting the share price of respective companies' positively.
Investor interest in the pack is making these stocks zoom to near record highs.
PSE pack outperforms Nifty index so far in 2021
From levels of 2805 on Nifty PSE, the index is now trading at 3297, marking a surge of 17% as against gains of close to 6 percent on the Nifty.
Hindustan Copper- Best performer in the stock
Shares of Hindustan Copper are surging on a continuing basis and hit their highest price in 8 years on February 24 of Rs. 128 and last hit a new high of Rs. 165.15. This is owing to a surge in copper prices on improved demand as there is a push given to the electrical vehicles space which demands good enough amount of copper.
Another pack that is seeing a surge among the PSE space is the fertilizer pack on strong investor interest due to divestment by the government. Stocks like RCF, National fertilizers, Deepak Fertilizer zoomed close to 70% in a week.
The government's focus on the agri-economy in the Budget 2021 continued to improve the sentiment for the pack.
OMCs is another pack that is also soaring. BPCL, HPCL and IOC traded higher in today's trade by up to 3 percent.