Construction, cement, telecom top the M-cap chart

Updated: Dec 30 2006, 05:30am hrs
Friday drew the curtain on stock trading in calendar 2006 which saw Rs 10.75 lakh crore added to investor over the previous year, an increase of 44.16%. As the 30-share Sensex of the Bombay Stock Exchange (BSE) ended the last trading session of the year at 13,786 points, the total market capitalisation of BSE stood at Rs 35.10 lakh crore. This compares with the Rs 24.35 lakh crore M-cap on December 30, 2005 when the Sensex had closed at 9,397.93 points. During the year, Sensex gained 4,388.98 points, or 46.70%.

Nilesh Shah, CIO of Prudential ICICI Mutual Fund, said,In 2006, the Sensex continued to rally amid strong liquidity and bullish undertone, backed by strong economic data. FIIs continued to bring huge amounts to India on strong long-term prospects which also added fuel to the fire."

An industry-wise analysis of M-cap shows that construction (190.51%), cement & products (102.05%), diversified industries (82.31%), media (62.58%) and telecommunications (56.32%) were the best performers between December 30, 2005 and December 29, 2006. Ambareesh Baliga, vice president at Karvy Stock Broking, said, It was a landmark year where, on the one hand, the market scaled new highs with huge FIIs investments and, on the other, people on the street lost their fortune in the May and June carnage, which they may not have recouped even by the end of the year.

The M-cap of A group comprising 194 companies gained 29.44% from Rs 19,92,342 crore on December 30, 2005 to Rs 25,78,969 crore on December 29, 2006. The highest increase in M-cap among these companies was recorded by Adani Enterprises ( 286.2%), followed by Hindustan Zinc (235.91%) and Sterlite Industries (154.1%).

ONGC, the numero uno in terms of M-cap, increased its value by Rs 13,965 crore. Another heavyweight BHEL added Rs 22,319 crore. Reliance Industries' M-cap also increased by Rs 53,069 crore.