While 2018 has been a tough year, some stocks have witnessed a fantastic run such as HEG, Graphite India, Mindtree, Page Industries, L&T Technology Services and Divis Labs.
Top 15 gainers have risen 50-244 percent between Diwali of last year (October 19, 2017) and October 30, 2018. The data has been sourced from Ace Equity and includes companies with market capitalisation above Rs 5,000 crore.
Meanwhile, investors in Dewan Housing
, Central Bank of India
, Motilal Oswal Financial Services
and PNB Housing Finance
have all seen big
cuts in their investments, with stocks falling 51-69 percent.
Graphite and IT stocks like HEG, Graphite India, NIIT Tech and L&T Infotech gained 100 to 240 percent on the back of weakening rupee (strong dollar) as most of their revenues come from exports.
Global brokerage house Bank of America Merrill Lynch feels that the demand for graphite electrode will continue to be strong globally due to
Chinese curbs on pollution and steel output.
NBFC (non-banking financial stock) stocks were under pressure during the period on the back of liquidity concerns in NBFCs post Infrastructure Leasing & Financial Services (IL&FS) crisis, which created panic and triggered a sell-off in NBFCs.
Till date, the Sensex has risen 5 percent in Samvat 2074, while Nifty has gained just 1 percent. Domestic as well as global cues such as mixed earnings from India Inc, trade war between China and US, weakening rupee and rising crude oil prices have had a negative impact on the market’s momentum.
In Samvat 2074, indices climbed to all-time highs as Sensex touched 38,989.65 on August 29, while Nifty hit 11,760.20 on August 28.
The broader indices, BSE midcap and BSE Smallcap, underperformed the benchmarks with a negative return of 10 percent and 17 percent, respectively.
The sectors which outperformed during the period are IT (up 33 percent), FMCG (7 percent), bankex (4.4 percent), while telecom sector underperformed the most as it shed 33 percent followed by realty (down 23 percent), auto (down 21 percent) and oil & gas (down 16 percent).
During the period, Domestic Institutional Investors (DIIs) remained net buyers as they bought Rs 1,25,292.68 crore of equities, while Foreign Institutional Investors (FIIs) sold equities worth of Rs 21,359.98 crore.
Table: Top 10 gainers out of 15 stocks that gave 50-244% in Samvat 2074 so far
Other gainers of the 15 are — Page Industries (up 57.36 percent), Mindtree (up 56.17 percent), Zensar Technologies (up 55.75 percent), Varun Beverages (up 52.83 percent) and Mphasis (up 50.98 percent).
This year, Muhurat Trading will be held on Wednesday, November 7.