Medium impact
Power Grid falls 3%, the weakest Nifty share, as power utilities lag
Power Grid fell 3.04% to ₹259.55, the biggest decline in the Nifty 50, and NTPC slipped 0.45%, even though the wider market rose. Reports did not cite company-specific news; both had gained after their results in the previous session. Both companies have a ₹3 per share interim dividend with a 6 November record date. NHPC rose 0.79% ahead of its board meeting on 4 November to approve September-quarter results.
The chain of consequences
- 1Investors rotate into consumer, bank and capital-market shares
- 2Power utilities that rallied after results see selling
- 3Power Grid falls 3.04%, NTPC 0.45%
- 4NHPC edges up ahead of results
Tends to gain
Sectors receiving the rotation, such as FMCG and private banks
Tends to lose
Power transmission and generation shares
If it reverses
Dividend record dates on 6 November and NHPC's results could bring attention back to the sector.
Companies in this story
Other stories today
- Foreign investors buy a net ₹6,837 crore, the most in a single day since October 2025
- Brent settles at $103.60 after US strikes on Iran's Qeshm Island, as Qatar keeps talks alive
- US votes in midterm elections; 10-year bond yield rises to about 4.96%
- Consumer goods shares lead as Marico jumps about 10% after results
- Private banks rise 2%, state-run banks fall 1.3% as SBI reports results
- Reports of a capital gains tax review add to buying, but nothing is decided
- Defence shares extend rebound; BEL keeps its 15%-plus growth outlook
- Coal India reported to plan a $1 billion share sale in Mahanadi Coalfields
- Dr Reddy's rises 2% on HIV-prevention drug approval; Sun Pharma clarifies plant report
- Auto shares rise 1.7% for a second day after record October sales
- Apollo Hospitals and NHPC report September-quarter results today