Moneycontrol
May 17, 2017 02:33 PM IST |

Top 10 stocks which rose up to 100% during Nifty50 journey from 9000-9500

The index took 42 trading sessions to rally nearly 5 percent or 500 points from 9,000 to 9,521 on May 17, but there was plenty of stock specific action. As many as 354 stocks from the Nifty 500 index outperformed the Nifty50 index.

Top 10 stocks which rose up to 100% during Nifty50 journey from 9000-9500

Kshitij Anand

Moneycontrol News

The Nifty50 reclaimed the 9,000 mark in the month of March 2017 and since then there has been no stopping the rally which pushed the index above 9,500 in May. The Nifty50 recorded its then lifetime high of 9,119 back in March 2015.

The index took 42 trading sessions to rally nearly 5 percent or 500 points from 9,000 to 9,521 on May 17, but there was plenty of stock specific action. As many as 354 stocks from the Nifty 500 index outperformed the Nifty50 index.

Almost 10 stocks rallied over 50 percent in 42 trading sessions with Indiabulls Real Estate gaining as much as 118 percent in the same period. Other stocks, which rose over 50 percent, include names like Bhushan Steel, Avanti Feeds, Adani Transmission, Network 18, Chambal Fertilisers, RCF, Bank of India, MOSL, and PNC Infratech.

Not just Sensex and Nifty50, as many as 168 stocks on the BSE hit a fresh 52-week high on Wednesday which includes names like Bayer Crop, Vardhman, Monsanto India, Bajaj Holdings, Ceat, Safari Ind, Bajaj Finance, HUL, MOSL, Manpasand Beverages etc. among others.

Nifty50

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Nearly 100 stocks gave negative returns with Shilpi Cable slipping up to 72 percent in the same period, followed by JMT Auto which fell 38 percent, and Infibeam Incorporation dropped 28 percent in the last 42 sessions.

The rally has been broad-based with small and midcap indices hitting fresh record highs. The S&P BSE Midcap index hit a fresh record high of 15,122.77 on May 17 while the S&P BSE Smallcap index hit a fresh lifetime high of 15,750.03 on May 11.

After a sharp run-up in prices, the index took a breather at higher levels on Wednesday, but the bull mark argument still remains intact. Investors are advised to ignore any short-term correction and look at adding positions in quality stocks on dips.

Investing in equities should never be a one-time exercise and they will have to ride out intermittent corrections in the market which are part of the bull market, suggest experts.

“Corrections are part of any bull market. Once these factors are known and accepted by an investor and stock selection has been prudent based on fundamentals, there is no cause for worry over the medium-to-long-term horizon,” Jayant Manglik, President, Retail Distribution, Religare Securities told Moneycontrol.

“Considering that in 2017, the Nifty has already rallied more than 15 percent and the mid-cap and small-cap indices have surged about 30 percent, caution is advised in the latter at the current levels,” he said.

But, at the same time, Manglik further added that we cannot generalise that valuation across sectors/stocks in the mid-cap and the small-cap segments are unattractive.
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