Companies undergoing financial turmoil miss the Dalal Street party

The stock markets witnessed one of its biggest-ever celebrations on Friday. However, not all were invited. Companies undergoing financial turmoil or are loss-making had little to cheer. 

Sample this: In the BSE 500 universe, there are 48 companies that reported losses for the financial year 2018-19. Shares of these companies rose an average 2 per cent, even as the benchmark Sensex jumped more than 5 per cent, in what was its biggest ever gain in a decade.  

Majority of the trouble-hit companies ended the day in the red, even as investors lapped up shares across the board. 

Besides stressed