Power Stocks Pare Morning Gains Adani Power Touches 52-W High

On a lacklustre day, BSE Power index is outperforming the major indices in the market on Tuesday. Adani Power Limited is the top gainer in the BSE Power index and is contributing the most to the index's gains.

The stock touched its fresh 52-week high of Rs 41.3 per share, up by Rs 2.8 per share or 7%. The power index stocks are trading in positive territory, but have pared their morning gains in the lunch hours on Tuesday. Tata Power Company Limited touched its intraday high of Rs 83.8 per share, up by 2.1%. The stock is also pushing the BSE Power index up. The company recently announced that its generation capacity in Q3FY17 is up by 8%.

Nifty is trading below crucial support of 8950 levels at 8939 levels, down by 24 points. Sensex is trading lower by 71 points at 28977 levels. There are 658 advances, 938 declines and 324 unchanged stocks on NSE, reflecting a fairly negative undertone floating in the market. 

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