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stock market turmoil as major companies hit 52 week lows

On January 13, 2025, the stock market faced significant pressure, with 295 securities hitting 52-week lows. Notable declines included Life Insurance Corporation (LIC) at ₹823.7, Adani Wilmar at ₹267.1, Olectra Greentech at ₹1,268.1, and Tata Steel at ₹124.18, amid various industry challenges and competitive pressures. The NIFTY 50 index fell 1.06%, while the BSE SENSEX dropped 0.93%, reflecting widespread losses across sectoral indices.

Nifty PSU Bank index surges 7 percent amid positive market sentiment

Nifty PSU Bank index surged 7% over two days, driven by strong performances from SBI, Central Bank, PNB, and Bank of Baroda, following the BJP-led Mahayuti alliance's victory in Maharashtra elections. This rally occurred amid a positive market sentiment, with benchmark indices Sensex and Nifty also gaining up to 5%.

Maharashtra election win boosts optimism in PSU and banking sectors

Investor optimism in PSU shares has surged following the BJP-led Mahayuti alliance's victory in the Maharashtra assembly elections. Sunil Subramaniam noted that the alignment between the Centre and the Maharashtra government is likely to enhance policy implementation and government spending, contributing to a nearly 3% rise in the BSE CPSE index, driven by gains in railway PSUs and banks like Central Bank and Indian Bank.

bank stocks plunge amid adani bribery allegations and market sell-off

Bank stocks experienced a sharp decline on November 21, driven by a broad market sell-off and bribery allegations against Gautam Adani and his executives. Most banking stocks fell, with major public sector banks like State Bank of India and Bank of Baroda losing 4-8%, while private sector banks showed relatively better performance.Following the Hindenburg report in January 2023, several banks disclosed their exposure to the Adani Group, with Life Insurance Corporation reporting Rs 35,920 crore and State Bank of India revealing approximately Rs 27,000 crore in total exposure.

psu bank shares surge on minority stake sale plans by government

Shares of four PSU lenders—Central Bank of India, Indian Overseas Bank, UCO Bank, and Punjab and Sind Bank—rose significantly on November 19 amid reports of a potential minority stake sale by the Centre to meet public shareholding norms. The Finance Ministry is expected to seek Cabinet approval for the sale, which would occur through an Offer For Sale in the open market, with timing and volume dependent on market conditions. Currently, the government holds over 93% in these banks, and five out of twelve public sector banks have yet to comply with the minimum public shareholding requirement of 25%.
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