Equity markets brushed aside the lockdown fears as top names including auto and financial stocks led the surge in investors’ wealth.
Nifty hit 13,000 on November 24, 2020 and the next leg of rally from 13,000 to 14,000 was covered by the index in a little over one month till December 31, 2020. After hitting a low in March 2020, when the government first announced a lockdown to curb the spread of coronavirus, the market started to recover. The benchmark index next scaled another high of 15,000 on February 5, 2021. And the final 1,000 point rally from 15k to 16k took about 6 months. On August 3, 2021, Nifty closed at a fresh record high of 16,130. This journey from 13,000 to 16,000 has not been unilateral. While many stocks marched ahead along with the benchmarks, some other lagged. Here’s a look:
Top Nifty gainers from mount 13,000 to 14,000: Paint manufacturing firm Asian Paints was the top index gainer, jumping 25.21 percent followed by Adani Ports and Special Economic Zone and ONGC which added 22-23 percent each. Titan Company, Tata Steel, Housing Development Finance Corporation, Sun Pharmaceutical Industries, JSW Steel, Larsen & Toubro and State Bank Of India were the other gainers adding 12-18 percent.
Top Nifty losers from mount 13,000 to 14,000: Royal Enfield manufacturer, Eicher Motors was the top index loser shedding over 6 percent followed by Power Grid Corporation Of India, Bharat Petroleum Corporation, Mahindra & Mahindra, Shree Cements, HDFC Bank, Axis Bank, Britannia Industries, Bajaj Finserv and Reliance Industries which fell 0.5 percent to 2 percent.
Top Nifty gainers from 14,000 to 15,000: The rally from mount 14k to mount 15K was largely led by top auto names. Tata Motors led the chart surging 71.82 percent depite JLR drag followed by PSU Banking major SBI which gained 43 percent. The other gainers included Grasim Industries, Bajaj Auto, Ultratech Cement, Mahindra & Mahindra, Larsen & Toubro, Adani Ports and Special Economic Zone, Axis Bank and Eicher Motors.
Top Nifty losers from mount 14,000 to 15,000: After leading the gains from 13,000 to 14,000, Asian Paints made a U-turn falling over 14 percent followed by Dr. Reddy’s Laboratories, Nestle India, Hindustan Unilever, SBI Life Insurance Company, Titan Company, Reliance Industries, Maruti Suzuki India, Tech Mahindra and Britannia Industries.
Top Nifty gainers from 15,000 to 16,000: The brisk run-up of the 1000 point rally in Nifty in a little over 6 months was led by metal stocks. Tata Steel led the rally, surging 105 percent folllowed by JSW Steel (85.65 percent) and Hindalco Industries which added over 70 percent. The other gainers included UPL which added 47 percent, Bajaj Finserv (45 percent), Wipro (39 percent) and Grasim Industries which was up 34 percent. Divi’s Laboratories, Infosys and Tata Consumer Products gained over 28 percent each.
Top Nifty losers from 15,000 to 16,000: Auto stocks felt the heat as virus scare spooked the auto industry in addition to ship shortage that hampered manufacturing. Hero MotoCorp was the top loser, down over 18 percent followed by Kotak Mahindra Bank , down 16 percent. Mahindra & Mahindra fell over 12 percent followed by ITC, Eicher Motors, HDFC Bank, HDFC, Bajaj Auto, Tata Motors and Maruti Suzuki which shed 9-11 percent each.
Sandip Das
