The Indian stock market is seeing high volatility due to the novel coronavirus, or COVID-19, pandemic. In less than a month, the Sensex has fallen thrice over 1,000 points each and rose five times over 1,000 points.
The Nifty tumbled as much as 38 percent on March 23 from its high of 12,363 touched on January 14. Of late, it has recovered 18 percent from the bottom.
It is very difficult for investors to take a call is such uncertain markets. Let’s analyse which stocks have bounceback from the lows of March 23.
Around 28 out of 50 Nifty constituents have outperformed from its recent bottom. Healthcare sector stocks hogged the limelight as Cipla, Sun Pharmaceutical Industries and Dr Reddys Laboratories share prices have surged over 40 percent in the same period.
Similarly, on the NSE 500, 34 stocks have returned over 50 percent from their March 23 bottom.
In fact, stocks like Parag Milk Foods, Aurobindo Pharma, and Heritage Foods remained top performers, witnessing a surge of over 80 percent return in less than a month. Over half of the NSE 500 stocks have outperformed the Nifty in this recovery period.
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