158 stocks gained over 50% post general election results

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158 stocks gained over 50% post general election results

A sharp rally in equities post general elections have seen about 158 stocks from the BSE 500, mid-cap and small-cap indices gain over 50%. Of these, 21 stocks have more than doubled, while 137 gained between 50-100%. Another 222 scrips rose in the range of 25-50%.

Since May 15, the S&P BSE Mid-cap and S&P Small-cap indices have outperformed their large-cap peers by appreciating 31% and 21% respectively. The CNX Nifty and the BSE S&P BSE Sensex have rallied 11% each after Narendra Modi-led Bharatiya Janata Party (BJP) won by clear majority in Lok Sabha polls.

The rally comes on the back of sustained foreign institutional investor flows coupled with participation from the domestic mutual funds that have bought aggressively since the past two months. Better-than-expected financial results for the quarter ended June 2014, also boosted sentiment.

"FII stake in BSE 500 companies continues to remain high, despite seeing a marginal decline to 19.6% in the June 2014, mostly due to market outpacing FII holdings. During the June quarter, the FIIs as a group seem to have attempted to add to beta, and we estimate they net bought PSU banks, real estate, utilities, telecom, healthcare and private banks; and sold out of staples and NBFCs (non-banking finance companies), Cement and information technology," points out Neelkanth Mishra, India Equity Strategist at Credit Suisse.

Foreign institutional investors made net inflow of Rs 34,031 crore ($5.7 billion), while mutual funds invested net amount of Rs 11,480 crore in Indian equities between May 16 and August 18, Sebi data shows.

Business Standard


Thanking you

Regards,

Rajesh Kumar Kathpalia ¤ SMC Global
17,Netaji Subhash Marg,Daryaganj,
New Delhi-110002 Mobile No 9891645052
Email Id: rajesh.ipo@smcindiaonline.com


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