After almost two months, the bullish environment seems to be returning in the stock market. After Friday's stormy rise, the market has maintained a big gain on Monday as well. Nifty has been trading above the level of 24300 since morning. In this boom in the market, investors' eyes are on PSU stocks.
In the recent past, PSU stocks have seen a decline after a spectacular rally after the Lok Sabha election results. Some PSU stocks even fell by 30% to 35% from their highs during the upside rally. However, during this time investors were hoping that some market trigger could bring the PSU stocks up again. PSU stocks

Are booming on Monday after the Maharashtra assembly election results. PSU stocks are seeing a strong rally in Monday's intraday trade after the spectacular victory of the BJP-led Mahayuti alliance in the Maharashtra assembly elections. In the bullish market, shares of big PSU stocks like Bank of Baroda, Indian Bank, HPCL, PFC, IRFC, BEL, RVNL, Bharat Dynamics, NBCC, GAIL, CONCOR, SAIL and others saw a jump between 3% to 11%.

Railway PSU stocks dominate

Railway PSU stocks dominated the rally on Monday. RITES rose 11% to a day high of Rs 310. IRCON International, IRFC, RVNL, and RailTel rose between 4% and 8%. Among PSU bank stocks, the Central Bank of India is showing a gain of more than 8%.

Defense PSU also got a boost

When PSU stocks were falling from high levels, defense PSU stocks fell the most. But now some gains are seen in them.

Strong performance is also being seen in PSU defense stocks. Which Bharat Dynamics is leading the rally with a gain of up to 7%. Cochin Shipyard, Hindustan Aeronautics (HAL), and Mazagon Dock Shipbuilders registered gains of up to 5%.

The rally was driven by the decisive victory of the BJP-led alliance in Maharashtra, which boosted investor confidence. The alliance won 233 out of 288 seats, bringing back the focus on infrastructure development.

According to analysts, the decisive mandate connects the state with the central government. This is expected to accelerate infrastructure development and resolve long-pending governance issues.

Dr. VK Vijaykumar, Chief Investment Strategist, at Geojit Financial Services, said that the political message from this election is huge and extremely positive from the market point of view.