3000 points gain in 14 sessions June 5, 2009
Posted by dhirendra1972 in Best Performers, Bull Run, Large Caps, Overseas Operation.Tags: Cash Levels, DLF, Economic Data, Gain, Indian Markets, Investors, Jaiprakash Associates, L&T, Marginal Improvement, Reliance Communications, Reliance Infra, Tata Steel
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Good morning friends. I wake up early to do my routine in the morning. After, I tried to read newspaper. I want to know what is happening to our business. With reference to The Economic Times there is 3000 points gain in 14 session. Let me share it.
While sensex has offered a gain of 23% postelection results, its main players such as Tata Steel, Jaiprakash Associates, DLF, Reliance Infra, L&T and Reliance Communications have provided investors with two to three times the gain offered by the benchmark itself.
Around 19 stocks outperformed sensex during this bull run which saw index moving from 12,000 levels to 15,000 levels in just 14 trading sessions. Investors, who were worried about Tata Steel’s overseas operations, shrugged off their fears and the steel major gained from Rs 270 to Rs 470, delivering 73% gains within a short time.
Jaiprakash Associates is the second in the gainers list, having notched up 65% returns, as its stock moved up from Rs 141 to Rs 232 in the same period.
DLF occupies 3rd position with over 60% gain as its promoters’ move to sell stakes to institutions improved investors’ sentiment. Anil Ambani’s Reliance Infra with 56% gains and Larsen & Toubro with nearly 48% returns followed as 4th and 5th best performers in the sensex pack.
“Driven by decline in cost of capital, Indian markets got re-rated and surged from the bottom with marginal improvement in economic data. Investors, sceptical of the sustenance of the rally, waited on the sidelines and cash levels in the system rose to astonishingly high levels of 15-20%. As visible in headline indices (sensex and Nifty), large caps led this rally from the front,” said Pathik Gandotra , head, research, IDFC SSKI Securities.
