Rahul Gandhi stocks outperform; Nestle, Pidilite up 1% in a falling market

At 11:49 am; Nestle India (Rs 2,385.45), Pidilite Industries (Rs 2,988.45) and Divi's Labs (Rs 4,343.80) were trading higher by up to 1% higher, as compared to a near 5% decline in the BSE Sensex.

Rahul Gandhi’s portfolio has outperformed by falling less than 5 per cent, while select stocks are trading in the positive zone in an otherwise weak market.

As per data from Election Commission of India website, Rahul Gandhi's stock portfolio includes stock like - Pidilite Industries, Bajaj Finance, Divi’s Laboratories, Nestle India, ITC, Hindustan Unilever, Titan Company, Suprajit Engineering and Tube Investments.

At 11:49 am; Nestle India (Rs 2,385.45), Pidilite Industries (Rs 2,988.45) and Divi’s Labs (Rs 4,343.80) were trading higher by up to 1 per cent each, while Bajaj Finance stock (Rs 6,917.60) was trading on a flat note.

Among the remaining, Titan Company (down 1 per cent at Rs 3,219.95), Tube Investments of India (down 1 per cent at Rs 3,807), ITC (down 3 per cent at Rs 417.85) and Suprajit Engineering (down 4 per cent at Rs 428.80). In comparison, the BSE Sensex was down 4.6 per cent at 72,973.

 

"The steep fall equity market is due to the results so far falling short of the exit polls which the market had discounted yesterday. If BJP doesn’t get a majority on its own there will be disappointment and this is getting reflected in the market,” said Dr. V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Also it is possible that Modi 3.O may not be as reform-oriented as the market expected and may turn more welfare- oriented. This is getting reflected in the strength in FMCG stocks, Vijayakuar said.