Samvat 2074 has indeed been a very volatile year with the Nifty gaining just 4% and the 30-share Sensex returning about 7%. Shares of RIL, TCS have are among the top 10 Nifty gainers in Samvat 2074. We take a look at top 10.
Samvat 2074 has indeed been a very volatile year with the Nifty gaining just 4% and the 30-share Sensex returning about 7%. However, it has been an excellent year for technology stocks, with the IT index zooming about 34%. In the IT pack, shares of Tech Mahindra have emerged as the overall winner returning a whopping 52% in the period. IT behemoth TCS comes second with returns of 49.5%. Infosys shares, with returns of 44.31% have emerged as the third best Nifty performer in the period. Titan (42.8%), ICICI Bank (37.7%), JSW Steel (37.66%), Axis Bank (30.7%) HUL (29.8%) Bajaj Finance (27.5%) have also managed to be among the top 10 performers in Samvat 2074. With returns of 21.67%, billionaire Mukesh Ambani-led Reliance Industries has been ranked at the 10th spot among the Nifty.
Notably, the Nifty gained just 4% during Samvat 2074, lower than the gains of the previous two Samvat years, while adding nearly Rs 3.5 lakh crore to its market capitalisation. The 5% rally in the past week helped the headline index to recover some losses after the market-wide sell-off during the period of July-September 2018 made the NSE Nifty 50 tumble below the 10,200-level and wiped out all gains of the year.
Speaking on the occasion of Diwali about the Indian markets and the way ahead, ace investor Rakesh Jhunjhunwala said he expects banks and NBFCs to do well in the future, along with the insurance sector. The Dalal Street king said he remains positive on infra stocks, especially after L&T’s second-quarter results. Jhunjhunwala said the quarterly corporate earnings ‘season has not been bad’, indicating a positive performance from the companies. He added that some opportunities in banking, NBFC and pharma stocks are expected. For pharma, Jhunjhunwala said the sector is looking ‘interesting from a 2-3-year perspective’.