BSE Power index surges to a 10-year high, up nearly 4% on demand pick-up

Tata Power has surged 10 per cent and trading near its record high; Torrent Power, Power Grid and Indian Energy Excahgne (IEX) from the BSE Power index were all trading at respective all-time highs

Shares of power generation companies were on a roll on Wednesday on expectation of higher demand. The S&P BSE Power index hit a fresh 10-year high. At 02:55 pm; the S&P BSE Power index, the top gainer among sectoral indices, was up 3.8 per cent at 3,192, as compared to 0.1 per cent decline on the S&P BSE index. The power index hit an intra-day high of 3,208.59, its highest level since November 2010.

Tata Power, CESC, NTPC and Bharat Heavy Electricals (BHEL) from the index rallied between 5 per cent and 10 per cent on the BSE in