PSU stocks have gained traction as investors have run after value stocks. Most PSU stocks, despite rallying in the last couple of years, trade at a discount to their private peers. This continued to attract investors.

PSU stocks have gained traction as investors have run after value stocks. Most PSU stocks, despite rallying in the last couple of years, trade at a discount to their private peers. This continued to attract investors.

Market experts expect PSU stocks, including banks, to consolidate till there is clarity on the government’s policies in light of the reduced majority

The BSE midcap index rose 0.7 percent while the smallcap index added nearly 1 percent.

Experts expect the index to march towards the 23,800-24,000 levels if it manages to hold the 23,500-23,400 area.

Sectorally,IT and Power indices rose 1.7 percent each, while PSU Bank index down 1 percent. In broader markets, the BSE midcap index ended flat, while smallcap index shed 0.5 percent.

Paytm is facing challenging times following stringent regulatory measures imposed on its associate company, Paytm Payments Bank Limited (PPBL), by the Reserve Bank of India (RBI).

Mantri recommends short-term traders go long in the counter at the current level of 880, keeping a stop loss below Rs 854 for targets of 925-945 in the near term.