• 11/08/2022 8:11 pm

Most of those stocks were from sectors like pharma, chemical, electronics, technology and e-commerce

Sunil Shankar Matkar

The benchmark indices registered stellar rally of 50 percent each in last four-and-half-months. But the picture is different when we compare the performance of last 12 months – i.e. from last Independence Day 2019.

The BSE Sensex gained only 2.4 percent since the last Independence Day, underperforming the broader indices with the BSE Midcap (up 6.26 percent) and Smallcap (up 9.8 percent) in the same period.

The government immediately after Independence Day 2019 took several measures to revive the economic growth which was badly hit by liquidity and NPA concerns, including cut in corporate tax, liquidity support to banking & financials space etc. US-China trade tensions also cooled off with signing first phase of deal.

As a result the benchmark indices hit a record high in January. But the outbreak of COVID-19 or novel coronavirus gripped the world and the equity markets. As a result, the Indian equities fell 40 percent from all-time highs achieved in January to March lows. This was followed by a 50 percent recovery from March lows.

More than 90 percent stocks in all key indices have turned positive from March lows, but in the last one year, the ratio is 50:50, i.e. in BSE Sensex 50 percent stocks are in the green and the rest in the red.

Same is the case with BSE 500 index, in which nearly 200 stocks reported double-digit gains from last Independence Day and of that 80 stocks climbed over 50 percent.

After filtering further, top 27 stocks turned multibaggers in last one year as they gave 100-677 percent returns. These include Adani Green Energy, GMM Pfaudler, Dixon Technologies, Granules India, Navin Fluorine, Essel Propack, IndiaMart InterMesh, Affle India, Birlasoft, Escorts, Coromandel International and Deepak Nitrite.

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