130 stocks have outperformed all major indices, MF returns and derivatives
The May rally indicates that operators are active in dud and low-value stocks plagued by poor volumes.
Already 130 such stocks have appreciated by over 100 per cent and 108 more are in line towards a 100 per cent gain within 34 trading sessions since April 25, 2003. On this day, the markets had sunk to a 6-month low.
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With gains in excess of 100 per cent, these 130 stocks have outperformed all major indices, mutual funds returns and returns on pivotals in the derivatives segment.
The daily traded volumes in these stocks spurted 8,000 per cent from around 7,500 shares in April to a whopping 6,22,000 shares in 10 trading days of June.
The gross deliveries of shares of the 238 biggest gainers, which surged between 80 per cent and 916 per cent in May, showed a 450 per cent jump over the aggregate deliveries in April. The rise in deliveries in case of individual stocks ranged between 100 per cent and 11,000 per cent.
In the current rally, the side counters have outperformed the derivatives segment. In stark contrast to the 100 per cent gains in side counters, Infosys Technologies gained a marginally by 1 per cent, while Wipro recorded decline of 4.5 per cent. Dr Reddy