Coal news and updates

Power index stays in red zone for 3rd consecutive day

The power sector remained in the red on Wednesday and this has been the case since Monday. There had been a positive note in the entire previous week.

The S&P BSE Power index was down 16.01 points (0.98%) to close at 1,621.15 on February 24 from the previous closing of 1,637.16. The highs and lows on February 24 were 1,644.13 and 1,619.25, respectively.

The performances of the global indices were weak on Wednesday because of the global sentiment. Global markets such as CAC, DAX and FTSE decreased more or less 2% against their previous closes.

The Sensex decreased 321.25 points (1.37%) to close at 23,088.93.

The performances of individual power stocks were largely negative. The highest growth was registered by GMR Infra which gained 4.44% to close at Rs 11.75. The maximum loss was registered by Alston T&D which lost 5.08% to close at Rs 93.50.