Sensex closes above 30,000-mark; these 14 stocks already gave over 200% return in 2017
Equity markets on Wednesday touched all-time high. BSE Sensex closed at 30,133.35, up 190.11 points or 0.63%, while NSE Nifty ended at 9,351.85, up 45.25 points or 0.49%.
Since the beginning of the year 2017, Sensex has given return of 13.17% as on January 2, Sensex closed at 26,595.45 and today it ended above 30,000-mark.
On 30-share benchmark, among top gainers were ITC (3.36%), Mahindra & mahindra (3.29%), HDFC (2.36%), Hindustan Unilever (1.78%) and ICICI Bank (1.61%). Among top losers were Adani Ports (-2.31%), Infosys (-1.61%), Dr Reddy's Lab (-1.31%), Power Grid (-1.30%) and Reliance Industries (-1.13%).
It was only on Tuesday, when Nifty had crossed 9,300-mark. Talking about the Nifty performance, Sameet Chavan, Chief Analyst- Technical & Derivatives, Angel Broking, "Today’s session was slightly tricky for intraday traders as the index took a sudden nosedive in the penultimate hour; but, once again ‘Trend is your Friend’ proved its significance as the intraday dip was immediately got absorbed.
"In the coming session, we expect yet another milestone of 9400 to be achieved, which is the 161% retracement of the recent small dip from 9273.90 to 9075.15," Chavan added.
Since January 2017 to till date, Nifty has given returns of 14.24% to its investors.
Commenting on today's market performance, Vinod Nair, Head of Research, Geojit Financial Services Ltd, said, "Market has made a higher high on account of rising global optimism due to ease in political risk in Euro zone & expectation of tax reform in the US. Volatility emerged during the late hours due to profit booking but short covering ahead the expiry navigated the direction back to north. Optimism on earnings & continued buying by local investors is directing the recent rally in the market."
As per the data shared by Prime Database, there are 14 companies that has given over 200% returns in less than five months.
Anand James, Chief Market Strategist, Geojit Financial Services Ltd, said, "Global positivity helped rallies to sustain early in the day, though derivatives expiry led volatility prompted long liquidation in the closing hour. Niti Aayog’s stress on the need for lower land prices for affordable housing may have put pressure on realty, while RBI favouring more consolidation of PSBs helped banknifty to continue its outperformance over benchmark index."
Moreover, sharing views on what kept the market moving today, Vaibhav Agrawal, Head of Research and ARQ, said, "Today’s rally was sparked by the outcome of Delhi MCD election and victory of favorable candidate in first round of French elections. The strong performance of our markets has also come on the back of the buoyant investor sentiment and improving macros and this rally is likely to continue with strong growth potential of our economy. Overall, the market are likely to remain strong with GST implementation just a couple of months away and expectation of normal monsoon this year."