Stock market update: Power stocks up as market rises

Power stocks saw an uptick as the broader market rose on October 18, 2024. Key gainers included NTPC, Power Grid Corporation, and Tata Power, which saw increases of up to 3%. The positive sentiment was driven by strong quarterly results and optimistic outlooks from these companies. The overall market rise was supported by gains in banking, IT, and FMCG sectors. Analysts believe that the power sector’s growth prospects remain robust due to increasing demand and government initiatives to boost infrastructure. The market’s performance reflects investor confidence in the sector’s potential for sustained growth1.