With Nifty touching 9,300-mark, 10 stocks that gave over 100% return in 2017
Since the beginning of 2017, the markets became bullish recovering from the aftermath caused due to demonetisation in November.
Equity markets have been the most volatile in this financial witnessing a lot of ups and downs. Despite all the turbulence, domestic markets gave maximum returns in one year as against other global indices.
If we look at the data, from January 2, 2017 till date, NSE Nifty has given return of nearly 14%. On January 2, Nifty ended at 8179.5 and today it closed at 9306.6, giving return of 13.7%
However, BSE Sensex, gave return of 13% in nearly five months. On the first day of 2017, Sensex closed at 26595.45 and today it ended at 29943.24, giving return of 12.5% to its investors.
According to Motilal Oswal research report, the strong global cues and good quarterly results boosted the market sentiment. Moreover, favorable domestic cues, fall in Oil price and favorable government policy have added fuel to the market.
"Nifty index continued its up move for second consecutive session and registered a fresh record life time high of 9309. It formed a Bullish candle on the daily chart as the range of the day was entirely above the range of the previous day.
"Nifty has made consolidation breakout of last three weeks and now a hold above 9250 could extend its up move towards 9350-9380 zone while on the downside supports are seen at 9218 and 9191," Motilal Oswal research report said.
Moreover, looking at the stock performance, there are companies which have given returns over 100% in less than five months.
The data has been shared by Amit Goenka, Analyst at Multibaggerstocks.co.in. While giving the outlook on market for the market, he said, "Overall outlook for the next few quarters is positive unless we see fed considering more rates cuts than expected. Expect nifty to hit 9900 where we may see some correction due to a psychological resistance level. Geo political factors can also play some part especially due to rising tension between the US and North Korea."