The Bombay Stock Exchange 30-share Sensex hit its highest level in more than 32 months on Thursday, but surprisingly not a single company in the benchmark index touched 52-week high.
The BSE benchmark index soared over 600 points, or 3%, to 20,567, its highest level since January 2011 in intra-day trades today on expectation that fund flows into emerging markets including India would continue as the US Federal Reserve's surprisingly decided to continue its stimulus programme .
However, more than half or 17 stocks from the index are still trading below their January 2011 levels. BHEL, Jindal Steel and Power, Tata Steel and Hindalco Industries are trading over 50% below their January 4, 2011 levels, while Sesa Goa, Tata Power, GAIL, SBI and L&T are available at 30-50% discount.
Sun Pharmaceutical Industries, Hindustan Lever and ITC helped the Sensex to touch more than two-year high by appreciating more than 100%, while TCS, HDFC Bank, Bajaj Auto, Dr Reddy’s Laboratories and Tata Motors have gained between 40-75% during the period.
Stocks of five companies – ITC, TCS, HDFC Bank, Hindustan Unilever and Sun Pharma have contributed 2,800 points for index gain, while L&T, Reliance Industries, SBI, BHEL and Tata Steel accounted 1,926 points fall since January 2011.
Meanwhile, out of BSE-500 companies, as many as 324 stocks are trading well below their January 4, 2011 level. VIP Industries, Educomp Solutions, MMTC, Hindustan Copper, Financial Technologies (India), BF Utilities, Suzlon Energy and Shree Renuka Sugars are currently available over 80% discount.
The BSE benchmark index soared over 600 points, or 3%, to 20,567, its highest level since January 2011 in intra-day trades today on expectation that fund flows into emerging markets including India would continue as the US Federal Reserve's surprisingly decided to continue its stimulus programme .
However, more than half or 17 stocks from the index are still trading below their January 2011 levels. BHEL, Jindal Steel and Power, Tata Steel and Hindalco Industries are trading over 50% below their January 4, 2011 levels, while Sesa Goa, Tata Power, GAIL, SBI and L&T are available at 30-50% discount.
Sun Pharmaceutical Industries, Hindustan Lever and ITC helped the Sensex to touch more than two-year high by appreciating more than 100%, while TCS, HDFC Bank, Bajaj Auto, Dr Reddy’s Laboratories and Tata Motors have gained between 40-75% during the period.
Stocks of five companies – ITC, TCS, HDFC Bank, Hindustan Unilever and Sun Pharma have contributed 2,800 points for index gain, while L&T, Reliance Industries, SBI, BHEL and Tata Steel accounted 1,926 points fall since January 2011.
Meanwhile, out of BSE-500 companies, as many as 324 stocks are trading well below their January 4, 2011 level. VIP Industries, Educomp Solutions, MMTC, Hindustan Copper, Financial Technologies (India), BF Utilities, Suzlon Energy and Shree Renuka Sugars are currently available over 80% discount.
| SENSEX GAINERS/LOSERS | |||
| Company | 4-Jan-11 | 19-Sep-13* | %chg |
| GAINERS | |||
| Sun Pharma | 244.92 | 557.25 | 127.52 |
| Hindustan Unilever | 321.05 | 664.00 | 106.82 |
| ITC | 177.45 | 350.00 | 97.24 |
| TCS | 1143.75 | 1966.00 | 71.89 |
| HDFC Bank | 468.67 | 677.00 | 44.45 |
| LOSERS | |||
| BHEL | 466.20 | 133.00 | -71.47 |
| Jindal Steel & Power | 726.90 | 251.95 | -65.34 |
| Tata Steel | 694.50 | 307.55 | -55.72 |
| Hindalco | 243.25 | 118.00 | -51.49 |
| Sesa Goa | 335.60 | 183.95 | -45.19 |
| Price on BSE in Rs | |||
| *at 1200 hours | |||