Large caps lead the way

26-July

21-Aug

31-Aug

% chg*

Recovery#

BSE-FMCG

1930.08

1799.05

1973.93

9.72

133.47

BSE-Cons Durable

4224.48

3972.30

4299.00

8.22

129.55

BSE-Cap Goods

13247.03

11989.97

13424.74

11.97

114.14

BSE-Oil & Gas

8325.19

7408.02

8160.13

10.15

82.00

BSE-Metal

12139.71

9847.15

11565.81

17.45

74.97

BSE-Sensex

15776.31

13989.11

15318.60

9.50

74.39

BSE-Auto

5096.44

4475.14

4878.05

9.00

64.85

BSE-Bankex

8185.52

7324.30

7858.79

7.30

62.06

BSE-IT Sector

5001.24

4294.86

4585.66

6.77

41.17

BSE-Healthcare

3788.36

3430.42

3572.82

4.15

39.78

* % change as on August 31 over August 21
# recovery percentage over decline between July 26 and August 21.

 This is in keeping with normal market behaviour, in which large-cap stocks are the first to melt as well the first to recover.  Thus, the recoup rally was weak in the case of stocks traded under trade-to-trade group, in which delivery is mandatory. Only 38.8 per cent of these staged a recovery.  On the other hand, 57.6 per cent stocks of B1-group stocks recovered. Of the 1,347 stocks traded under B2 and S groups, 66.6 per cent, or 897, recovered.  The recovery had been smart for 202 stocks, which closed at their new 52-week highs last week. Among these, 120 closed at their new all-time high. Reliance Industries, BHEL, IPCL, SAIL, Jai Corporation and Century Textiles made their all-time high levels last week.

Capital goods, consumer durables and fast-moving consumer goods outperformed the market by recouping all of their market capitalisation lost between July 26 and August 21. The underperformers were information technology and pharmaceutical companies.

The BSE capital good index gained 11.97 per cent against a 9.5 per cent decline earlier. The FMCG index gained 9.72 per cent against a decline of 6.79 per cent while the consumer durable index gained 8.22 per cent against a decline of 5.97 per cent.

BSE