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Public sector firms' share in total market cap at a three-year high

BSE PSU index gained 41% and 23% in 2021 and 2022, respectively

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Photo: Bloomberg

Sundar Sethuraman Mumbai
The share of listed public sector undertakings (PSUs) in the overall market capitalisation has hit a three-year high of 11.4 per cent. This comes on the back of the sharp outperformance of the PSU pack over the past two years. In 2021 and 2022, the BSE PSU index gained 41 per cent and 23 per cent, respectively.

Market participants said a combination of factors like value buying and bullishness, particularly in public sector banks (PSBs), were the reason for the improved prospects. Investors were bullish on PSBs amid a sharp moderation in new non-performing loan (NPL) formation over the past