NEW DELHI: Even as headline equity indices Sensex and Nifty ended with a weekly loss of 1.7 per cent, 10 BSE500 stocks gave double-digit returns to investors with leading the pack with an impressive return of over 51 per cent.
The Tata Group stock, which has rallied over 83 per cent in the last one month amid incessant buying, hardly has any analyst coverage.
Besides Tata Investment Corporation, at least nine other stocks rallied in between 10-16 per cent in the week. FMCG stock
was the second best performer in the BSE500 pack by rallying around 16 per cent. Tyre stock Ceat also rallied around 15.8 per cent after strong management commentary on multiple parameters such as demand for its products, softening the prices of raw materials and capacity expansions.
Agencies
Other top gainers included Kalyan Jewellers, , The , ACC, and .
On the other hand, the list of top losers in the pack was dominated by
, , Housing & Urban Development Corporation, , and .
In the smallcap space, (28 per cent), (27.5 per cent) and (25 per cent) were among the top gainers.
Sectorally, Nifty Metal was the top weekly gainer with a rally of 1.9 per cent. Nifty Bank also impressed by holding on its gains and ending the week 0.9 per cent higher.
Nifty IT was the worst sectoral loser amid fears of recession in the US and global markets. The index lost 7 per cent of its value in just 5 days.
Analysts expect mid and smallcaps to continue their outperformance in the short to medium term as they are trading reasonably well compared to largecaps and are at a discount to their historic valuation trend.
“Among the sectoral pack, banking is still looking comparatively stronger so participants can continue with buy on dips in private banking names,” said Ajit Mishra, VP – Research,
Broking.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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