Three stocks more than doubled investors’ wealth so far in 2018, which include names like Indiabulls Ventures followed by Merck and NIIT Technologies.
The Nifty rallied from 11,000-levels recorded in the month of January to 11,600 in August, a gain of over 5 percent in just 7 months. Interesting?
Well, there's more. If you have not noticed, there are about 50 stocks in NSE 500 index, which hit a fresh record high in August and outperformed the index in the same period as well.
As many as 49 stocks in the NSE 500 index rose 10-200 percent in 2018 which is higher than 5.4 percent return given by Nifty from January 23 to August 23, 2018.
Stocks which rose to fresh record highs in August include names like Indiabulls Ventures, Merck, NIIT Technologies, HEG, VIP Industries, Jubilant FoodWorks, Bajaj Finance, L&T Infotech, TCS, Godrej Consumer, Avenue Supermarts, and Atul Ltd etc. among others.
Out of these 49, three stocks more than doubled investor wealth so far in 2018, which include names like Indiabulls Ventures which rose 192 percent, followed by Merck which was up 129 percent, and NIIT Technologies which gained 113 percent.
Among the Nifty stocks, TCS, RIL, HUL, Infosys, M&M, Yes Bank, IndusInd Bank, Bajaj Finance and Bajaj Finserv hit fresh lifetime highs along with Nifty which hit a fresh milestone of 11,600 levels.
As many as 72 stocks in the NSE 500 index hit a fresh 52-weeks high which include names like MindTree, Kaveri Seed Company, Dewan Housing Finance, Divi’s Laboratories, Britannia Industries, Bajaj Finserv, Dabur India, HUL, JSW Steel etc. among others.
Future Outlook:
The Nifty continued its record-setting spree as it formed an all-time high of 11,620 on Thursday. The entire up move in the index since July 2018 low (10,604) has been well-channeled signalling sustained demand at elevated levels.
Most experts feel that the up move could extend towards 11,640 and if the momentum continues it could well stretch towards 11,840 but from a one-year perspective, most experts feel that the index could well hit 12,000.
We spoke to some 12 analysts, fund managers, and money managers earlier in the month of August to access the momentum. Almost 67 percent of the poll respondents feel that the S&P BSE Sensex is likely to hover in a range of 40,000-42,000 in the next 12 months.
For Nifty, almost 100 percent of the poll respondents feel that Nifty is on track to hit 12,000 and hover in the range of 12,000-13,000 in the next 12 months.
However, most experts expressed their concerns about falling currency which depreciated to Rs 70.39/USD recently. However, experts feel the current depreciation in currency is largely due to external factors and could well top Rs 71 in the near-term.
We have always believed that there was depreciating bias to INR. However, the recent sharp movement towards 70/USD has been entirely on the account of global tensions, which are highly fickle in nature and uncertain.
The probability of INR going to 71/USD based on global events is as high as its probability of going back to 69/USD. It is too early to incorporate recent movements into our INR forecasting models.
MORE WILL UPDATE SOON!!
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