The Economic Times daily newspaper is available online now.

    These 50 stocks rally up to 50% as Sensex reclaims 56,000

    Synopsis

    The BSE's barometer rose 10 per cent from recent lows. The index has hit the milestone after more than two and a half months, the data suggests. It had breached the 56,000 mark in the first week of May.Monetary policy tightening by the central banks, falling rupee, a boil in the crude oil prices, rising inflation and the crisis between Russia and Ukraine were weighing on the equity markets.

    These 50 stocks rally up to 50% as Sensex reclaims 56,000Agencies
    Benchmark Index BSE Sensex scaled 56,000 on Friday, scripting a quick recovery from its 52-week low of 50,921.22 scaled five week earlier, on June 17, 2022.

    The BSE's barometer rose 10 per cent from recent lows. The index has hit the milestone after more than two and a half months, the data suggests. It had breached the 56,000 mark in the first week of May.

    Monetary policy tightening by the central banks, falling rupee, a boil in the crude oil prices, rising inflation and the crisis between Russia and Ukraine were weighing on the equity markets.

    G Chokkalingam, Founder and MD at Equinomics Research said that stock market always discounts the future events in advance and things might not worsen much from here.

    "Recent events including Fed rate hikes, rupee depreciation, inflationary worries, less than expected monsoon and war crisis were majorly discounted," he added.

    In the recent round of recovery, more than 250 stocks from the BSE500 index delivered positive returns since June 17. Out of them, about 50 stocks have gained between 20-50 per cent, AceEquity data suggests.

    Ajit Mishra, Vice President (Research), Religare Broking said that the Indian equity market has been in tandem with the US indices. "Also, eased down selling by FIIs have also supported the market at domestic levels," he added.

    Two stocks - ITI and Adani Transmission - have gained more than 50 per cent in the last five weeks. ITI rose to Rs 124.6 on July 21, Thursday, from Rs 82.55 on June 17. Adani Transmission surged to Rs 3,045.4 from Rs 2,027.2 during the period.

    They are followed by Tube Investments of India (47 per cent up), Sobha (44 per cent up), Ceat (39 per cent up), Anupam Rasayan India (35 per cent up) and Adani Total Gas (34 per cent up), which have gained more than 30 per cent.

    Gainer-1.Agencies

    Aster DM, Can Fin Homes, SBI Cards, ABB India, Asahi India Glass, Gujarat Fluoro, Blue Dart, Granules India, Shriram Transport, Minda Corp, KRBL, Bajaj Electricals, SKF India, Cummins India, Responsive Industries, Canara Bank and City Union Bank have also jumped more than 25 per cent after June17.

    Linde India, Tata Communications, PI Industries, Mahindra CIE, Hindustan Unilever, Adani Green, KEC International, Jubilant Ingrevia, Federal Bank, Amber Enterprises, Bosch and Nocil are among the other top gainers.

    Gainer-2.Agencies

    Dalmia Bharat, Chemplast Sanmar, M&M Finance, IDFC, Fortis Healthcare, Godrej Properties, Indian Bank, Apollo Tyres, LIC Housing, Godrej Consumer, Jamna Auto, Siemens, Bank of Baroda and Tata Motors are also up by 20 per cent since then.

    Gainer-3.Agencies

    However, not everything is hunky dory on Dalal Street. Five stocks including Mangalore Refinery and Petrochem, Oil India, Zomato, Suzlon Energy and PB Fintech have tumbled between 10-22 per cent during the period under review.

    Losers
    Losers.Agencies

    Market experts believe that one should not be euphoric amid the ongoing volatility as experts anticipate a sideways movement in the indices at the current juncture as various risks continue to loom.

    "Markets are expected to remain volatile and one should not expect a swift move on either side in the near term," Mishra said. He suggests investors adopt a stock specific approach to make money, instead of looking at the market.

    Echoing similar views, Chokkalingam said that the worst is not over for us and investors should cautiously put their money in larger smallcaps and midcaps, along with the bluechips, to ensure enough liquidity for them.

    (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)





    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more


    (What's moving Sensex and Nifty Track latest market news, stock tips and expert advice, on ETMarkets. Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .)

    Download The Economic Times News App to get Daily Market Updates & Live Business News.

    Subscribe to The Economic Times Prime and read the Economic Times ePaper Online.and Sensex Today.

    Top Trending Stocks: SBI Share Price, Axis Bank Share Price, HDFC Bank Share Price, Infosys Share Price, Wipro Share Price, NTPC Share Price

    ...more
    The Economic Times

    Stories you might be interested in