Both Sensex and Nifty plunged over 6 per cent in the first half of the ongoing financial year (April to September). For an equity investor, the period under review was not favourable as factors like global uncertainties due to China’s yuan devaluation, US’s Fed decision on rate hike, sell-off in commodities and domestic factors such as a sub-par monsoon, and political stalemate resulting in an unproductive monsoon session of the Parliament affected the sentiments.
Foreign institutional investors (FIIs) pulled out a fair chunk of their inflows in the first half of 2015-16 and they remained net sellers as they sold shares worth Rs 15,425 crore during April and September period.
The BSE Sensex slid 6.45 per cent, or 1,802.66 points to 26,154.83 on September 30 from 27,957.49 on March 31.
Nimesh Shah, managing director and chief executive officer, ICICI Prudential AMC, said, “Sparked off by China’s devaluation of its currency, financial markets across the world went into a tailspin. The Indian markets, not isolated from world events. In fact, the slide turned steeper on worries that the US Fed would raise interest rates, though this, of course, has not materialised.”
There were around 251 stocks in the BSE 500 that bucked the trend and outperformed benchmark indices in the past two quarters. Out of 251, there were 184 that ended the first half in green. In the index, there were 27 stocks that jumped over 50 per cent in the first six months of the ongoing financial year. Share price of Chennai Petroleum Corporation surged the most — 224.65 per cent to Rs 222.55 on September 30 from Rs 68.55 on March 31. Others such as Rajesh Exports and Jubilant Life Sciences jumped over 125 per cent during the same period. Let us take a look at stocks in BSE 500 that jumped over 50 per cent in the first half.
STOCKS THAT JUMPED OVER 50 PER CENT
On the other hand, 245 stocks underperformed the market in 1HFY16. Share price of companies like PMC Fincorp, RISA International and Adani Enterpises dipped over 85 per cent during the period. Here is a complete list of stocks in BSE 500 that dipped over 50 per cent in 1HFY16.
STOCKS THAT SLID OVER 50 PER CENT