CPSE ETFs debut; select PSU stocks under pressure

The Units of Goldman Sachs Mutual Fund- CPSE ETF are listed on the exchanges today.

Shares of public sector undertakings (PSUs) companies which constituted the Central public sector enterprises or CPSE Exchange Traded Fund (ETF) are trading lower by up to 7% on the bourses.

Excluding Coal India, which trades at a marginally higher by 0.23%, the remaining nine companies - Container Corporation of India, Engineers India, Oil India, Bharat Electronics, Rural Electrification Corporation, GAIL India, Power Finance Corporation, Indian Oil and Oil & Natural Gas Corporation are down in the 1-6% on at the NSE.

The Units of Goldman Sachs Mutual Fund- CPSE ETF, an open-ended Index Exchange Traded Scheme, a Rajiv Gandhi Equity Savings Scheme (RGESS) Qualified Scheme, are listed and admitted to dealings on the exchanges today.

At 1013 hours, the CPSE ETF is trading higher by 8.54% at Rs 18.94 against its allotment price of Rs 17.45 on the NSE.  The CPSE ETF opened at Rs 18 and touched a high of Rs 19.25 so far. Around 27.77 million shares have changed hands, the NSE data shows.

Among the individual stocks Container Corporation has tanked nearly 7% to Rs 864, while Bharat Electronics and Oil India are down 3% each at Rs 1,055 and Rs 477 respectively.