Skip to main content

These 13 Nifty stocks rallied 11-72% from last record high to current record high

Only few stocks drove this recovery - major ones were Reliance Industries, TCS and Infosys, which are index heavyweights

The benchmark indices touched a record high in January 2020, but the COVID-led lockdown spoilt the party on the Street. Indices fell 40 percent from the record high levels to hit a low in March.

The market got a boost after the government started the Unlock process in June. The liquidity flow and positive global cues also lifted the sentiment.

Nifty and Sensex have made fresh record highs this week with Sensex scaling the 43,000-mark for the first time. But the upward journey from March to November was not broad-based as only two sectors saw substantial gains.

IT and Pharma looked strong from last record high in January to current record high in November, rising 29 percent and 35 percent, respectively. And the rest are still in the red during same period as of publishing this article.

It meant that only few stocks drove this recovery - major ones were Reliance Industries, TCS and Infosys, which are index heavyweights.

Among the Nifty50 stocks, 13 gained in double digits from last record high to current record high. Divis Laboratories was the biggest gainer with 72 percent rally.

Dr Reddy's Laboratories, Cipla, Infosys, Wipro, HCL Technologies and Reliance Industries rallied 37-53 percent, while JSW Steel, Hero Motocorp, Tata Consultancy Services, Asian Paints, Britannia Industries and HDFC Bank gained 11-23 percent during same period.



On the other hand, 16 stocks from Nifty50 list remained under pressure, falling 10-42 percent during January-November period.

ONGC, Coal India, IndusInd Bank, Bajaj Finserv, GAIL India, Indian Oil Corporation, ITC, State Bank of India, UPL, Tata Motors, NTPC,

Larsen & Toubro, Axis Bank, Bharat Petroleum Corporation, SBI Life Insurance Company and Tata Steel were top 16 losers from last record.

Experts feel the market rally would be broad-based when these above stocks participate in the economic recovery going ahead and now with the improving data points along with government support indicated that these stocks could participated in the up move in Samvat 2077.

"The Indian economy has witnessed a strong acceleration over the past few months led by manufacturing with the PMI reading of 58.9 for October being the highest since mid 2008. Services PMI reading of 54.1 for the month of October is the first reading above 50 since March and points to green shoots of recovery for the services sector. We expect the economic recovery to continue from here on led by continued acceleration in the services sector which should provide support to the markets," Jyoti Roy, DVP- Equity Strategist at Angel Broking told Moneycontrol.

He expects both cyclical and defensive sector will continue to do well. "Going forward we expect the broader markets will do well as compared to the benchmarks and within broader markets cyclical should do well given revival in earnings in FY22," he said.

Source- Moneycontrol.com

Comments

Post a Comment

Popular posts from this blog

Panacea Biotech shares hit 5% upper circuit after dengue vaccine completes phase I & II study

DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes, the company has said in an exchange filing. Panacea Biotech share price hit 5 percent upper circuit on the BSE on September 24 after the company completed phases I and II study of its dengue vaccine candidate DengiAIl. "Panacea Biotec Ltd. is delighted to announce the successful completion of its Phase I/II study to evaluate the safety and immunogenicity of its vaccine, DengiAll, a single-dose liveattenuated tetravalent vaccine," the company said in an exchange filing. Live-attenuated vaccines contain weakened bacteria or viruses that trigger an immune response but do not cause disease. The company said DengiAIl induced robust neutralising antibody responses against all the four dengue virus serotypes. DengiAIl has been found to be safe and well-tolerated with no serious adverse effects, the company said. After a single-dose, more than 80 percent of the participants ...
Post a Comment
Read more

Taking Stock | Profit-booking pulls Nifty below 14,450; Sensex drops 549 points

  All the sectoral indices ended in the red with IT and PSU bank indices falling 2 percent each. The market remained under pressure on January 15 on the back of profit-booking across sectors amid weak global cues. At close, the Sensex was down 549.49 points or 1.11% at 49,034.67, and Nifty was down 161.90 points or 1.11% at 14,433.70. "The market witnessed profit-booking and following global trends. Nifty continues to resist 14,600 and has taken a dip towards 14,360. If the market closes below 14,380 levels, we might see a correction till the levels of 14,180-14,200. Momentum indicators like RSI, MACD are indicating a small correction in the markets," said Ashis Biswas, Head of Research at CapitalVia Global Research. All the sectoral indices ended in the red with IT and PSU bank falling 2 percent each. Broader markets performed in line with the main indices with BSE Midcap and Smallcap indices falling 1 percent each. Tech Mahindra, GAIL, HCL Tech, Wipro and ONGC...
Post a Comment
Read more

Similar to 2020, D-Street is at record high ahead of Budget 2021; will history repeat itself?

  Experts are of the view that a repeat of 2020 or what happened in March might not be possible but some consolidation cannot be ruled out. Back in March when everyone wanted to write-off 2020 from their books, hope and liquidity supported markets and investor sentiment. Nobody thought that after touching a 3-year low in March 2020, benchmark indices would give double-digit returns by the end of the year. The S&P BSE Sensex and Nifty50 rallied by about 15 percent in 2020 and the big outperformance came from the small and midcap stocks. The rally is still continuing in 2021. The S&P BSE Sensex, which climbed Mount 49K, is up over 3 percent while the Nifty50 is up over 4 percent so far in January. Sensex scaling the 49,000-mark and Nifty50 touching 14,500 levels ahead of the Budget 2021 could make anyone cautious about the strength of the rally. Back in January 2020, both Sensex and Nifty touched fresh highs ahead of Budget, and then the market fell like a pack of cards. The ...
Post a Comment
Read more