Updated on 16 Mar 2017
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The index, Nifty, has moved from previous high to new high and these stocks have gained 300%
• The index, Nifty, has moved from previous high to new
high and these stocks have gained 300 percent
The NSE Nifty index scaled a new all-time high of 9,122 in early trade on Tuesday after the BJP notched up solid gains in the state assembly elections. It took around two years for the benchmark equity index to surpass the previous all-time high level of 9,119 that it had hit on March 4, 2015. The index was trading 131 points, or 1.48 per cent, up at 9,066 at around 9.48 am (IST).
While the market gave flat return during this period, CNX500 stocks such as CPCL, Jubilant Life, Nikamal, Aegis Logistics, Himatsingka Seide, Gayatri Projects and Dalmia Bharat have advanced over 300 per cent.
Among the major gainers, Escorts advanced 279 per cent, followed by Kwality (up 278 per cent), Trident (up 232 per cent), Rajesh Exports (up 231 per cent), CanFin Homes (up 221 per cent), Rain Industries (up 209 per cent) and APL Apollo (up 207 per cent).
In the largecap space, shares of Adani Enterprises, ICICI Bank, Wockhardt, BHEL and Tata Motors have declined 87 per cent, 23 per cent, 56 per cent and 42 per cent and 17 per cent, respectively.
Shares of oil marketing companies Indian Oil Corporation (IOC), Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) advanced 118 per cent, 62 per cent and 141 per cent, respectively, between March 4, 2015 and March 10, 2017.
On the other hand, IT majors HCL Technologies, Infosys and Tech Mahindra have plunged over 17 per cent, 10 per cent and 34 per cent in the same period.
Rural growth trends have been weak in India in the past few years for various macroeconomic reasons and the nascent recovery seen last year around July-September 2016 was nipped in the bud because of the demonetisation drive launched in November 2016.