Impact of Rajya 2024 Sabha Election, USA Election and Budget is Over , Nifty PSU Bank Sector Indicates Positive Momentum
Remember the days of Rajya Sabha 2024 Election , Election was conducted in different states of country in Seven to elect all 543 Members of Rajya Sabha and the result was declared on 4th June for the 18th Lok Sabha and the party who got the maximum and majority of seats proved their support and formed the Government on 9th June 2024.
In Bihar state the Government was formed with the Coalition of three parties and CM was appointed.
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Nifty PSU Index & Election Time
The chart itself telling the story of PSU sector, this is not the new case ,whenever the Rajya Sabha & Vidhan Sabha election are proposed the impact on the Bank Sector Index can be seen , Same we are discussing here , Post the dates was announced for the election of Rajya Sabha, this has led the correction in the Nifty PSU Index , refer the below chart and the date as marked for indication .
In June the Nifty PSU index was trading at 8053 Point due to the Rajya Sabha election , Government formation and USA Election led the index down to 6329 Point, which is major hit for the PSU bank sector.
USA Election & Geo Political Impacts
To improve your ability to assess global and national events, it’s important to predict or evaluate the index movements and the rhythm of PSU sectors more effectively. Initially, the impact of the Rajya Sabha elections was felt, followed by Q2 results & the announcement of the U.S. elections, which, coupled with ongoing geopolitical crises and global turmoil, created significant pressure on the market. The global banking sector, in particular, was affected, alongside challenges in these events, which were highly sensitive, weakened the market conditions and investor sentiment, causing both global and national investors to steer clear of the market, leading to a downturn in the sector.
PSU STOCK CURRENT STATUS
The Nifty Bank Chart and Banks Sector as tabulated here ,reflects the transparency ,about the LTP, 52 week Low and 52W High ,
A good chemistry, stock are about 30% to 40% down from their 52week high.
Gap in rates are attractive and the current valuation of stock are good if we compare to the Nifty PSU Bank.
The NIFTY PSU Bank index has fallen from its peak of 8053 points in June to 6329 points today, marking a correction of 1724 points (21%) from June to January 2025. This significant decline has led to a steep 40% drop in the stock prices within this period.
The PSU sector appears to be well-valued at present. Over the past trading session, stocks have gained approximately 2% to 6%, alongside a 3.4% recovery in the index. If this momentum continues, the sector could see further growth in the near future.
STATUS OF PSU BANK STOCKS ON CHARTS
- Central and Canara Bank
- Punjab & Canara Bank on Chart
Prime Ministry Visit to USA
The upcoming visit of Prime Minister Narendra Modi to the USA next week could potentially lead to market gains. Since the U.S. imposed duties on China, Canada, and Mexico, there has been uncertainty due to global political dynamics. While it’s unclear how things will unfold, the Prime Minister’s visit may help ease tensions for India, with potential positive impacts on the market. However, this is speculative, and clarity will come only after the meeting with U.S. President Donald Trump.
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Disclaimer
The information provided on this website is for educational and informational purposes only and should not be considered as financial, investment, or trading advice. All content, including stock analyses, market data, and opinions, is based on publicly available information believed to be accurate at the time of publication.
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