Investors in CPSE ETF hit hard after 11% slide in last 3 trading sessions

Investors in the government-backed CPSE Exchange Traded Fund (ETF) are deep in the red, after an 11 per cent fall in the last three trading sessions, following the government’s decision to make the companies absorb the rise in fuel prices.

The ETF has a skewed weightage towards energy and oil marketing companies, and is down 17 per cent in the past one year. Oil and Natural Gas Corporation, Coal India, Indian Oil and GAIL (India) together constitute more than 75 per cent of the CPSE ETF. In the past year, CPSE ETF has shed 20 per cent, compared to 8.25 per