Top six stocks contribute 53% in recovery

Nifty BSE | NSE 25/05/12 Are Mutual Funds betting on Nifty?

It was yet another spectacular example of resilience of Indian market which has almost recovered from its recent correction of over 2000 points. The subprime shockwaves emanating from United States hit the global market leading to sharp (over 12%) correction in the Indian peers too. Yen carried trade coupled with political instability in Delhi on account of Nuke deal with USA added insult to the already injured markets and consequently the 30 shares BSE sensitive index plummeted by over 2000 points from its all time high of 15868.85 in August.

 

Indian markets backed by its strong fundamentals have bounced backed rapidly and is hovering near to its recent highs. According to analysts, this 1642 points pull back on Sensex is one of the fastest recoveries. Top six stocks contributed nearly 53% in the ongoing recovery. The big boys Reliance Industries, ICICI Bank, L&T, Bharti Airtel, Tata Steel and Rel Comm spearheaded this.

 

Sectors that helped markets to bounce back were metal which contributed about 20. Capital goods oil&gas and telecom spaces, which outperformed during the recovery process and provided support level for markets to bounce back. 

 

Ome significant contributors were Reliance Industries, which contributed more than 15%, followed by ICICI bank and L&T, which contributed around 9%. Bharti Airtel, Tata Steel, Bhel contributed to 5-6%. R Com, ITC, HDFC Infosys all these stocks contributed to provide support at the base level at 4%. The other stocks who rallied were NTPC, ONGC, SBI, Maruti, M&M, Satyam.

 

Name	Contribution
	Points	%
Reliance Industries	257.58	15.69
ICICI Bank	157.26	9.58
L&T	128.4	7.82
Bharti Airtel	117.04	7.13
BHEL	101.3	6.17
Tata Steel	100.17	6.1
Rel Comm	81.12	4.94
Infosys	77.46	4.72
HDFC	73.98	4.51
ITC	68.84	4.19
HDFC Bank	73.98	4.51
NTPC	49.23	3
SBI	48.01	2.92
ONGC	43.29	2.64
HUL	29.13	1.77
Hindalco	28.52	1.74
Maruti	8.88	0.54
M&M	25.34	1.54
Grasim	24.23	1.48
ACC	23.58	1.44
Reliance Energy	22.14	1.35
Satyam	21.9	1.33
Tata Motors	20.77	1.26
Ranbaxy	20.4	1.24
Ambuja	16.17	0.98
Wipro	12.13	0.74
Dr Reddy's	8.88	0.54
Bajaj Auto	7.7	0.47
TCS	3.25	0.2
Cipla	-3.98	-0.024
Total	1642	100

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

By Om Prakash Singh & Aniket Vakharia