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Rediff.com  » Business » BSE-500 is a world beater

BSE-500 is a world beater

December 16, 2003 09:22 IST

The Bombay Stock Exchange's broad-based BSE-500 has doubled from its 52-week low of 1,055.03 on April 25, 2003. The index closed at 2,158.99, marking a 105 per cent appreciation in the last eight months.

More importantly, the BSE-500's relentless rise puts it right on top of the global performance chart. The BSE 500 outperformed the 30-scrip BSE Sensex, which gained 84.36 per cent during the same period, and the National Stock Exchange's S&P CNX Nifty (86.51 per cent).

Right at the top

 

Apr 25, 2003

Dec 15, 2003

% Chg

BSE 500

1055.03

2158.99

104.64

Thailand SET

368.53

689.05

86.97

S&P CNX Nifty

924.30

1723.95

86.51

BSE Sensex

2924.03

5390.88

84.36

Jakarta Composite

435.05

658.52

51.37

Karachi Composite

2859.31

4269.08

49.30

Hang Seng

8409.01

12520.17

48.89

Seoul Composite

566.63

822.16

45.10

Taiwan Weighted

4233.54

5924.24

39.94

DAX

2838.23

3907.02

37.66

Nikkei 225

7699.52

10490.77

36.25

Strait Times

1281.33

1743.17

36.04

Nasdaq

1434.54

1949

35.86

Sri Lanka All Share

817.80

1106.02

35.24

CAC 40

2866.74

3510.79

22.47

Dow Jones Industrial

8306.35

10042.16

20.90

S&P 500 Index

898.81

1074.14

19.51

Among Asian Indices, Thailand's stock index SET rose 86.97 per cent from its level on April 25, while the Jakarta Composite gained 51.37 per cent and the Karachi Composite 49.30 per cent.

The Hang Seng climbed 48.89 per cent from its April 25 level, followed closely by the Seoul Composite (45.10 per cent) and the Sri Lanka All Share (35.24 per cent).

Other Asia-Pacific majors like the Singapore Strait Times, with a 36.01 per cent gain, and the Nikkei-225, with a 36.25 per cent gain, were way behind the Indian index.

Among other indices, Germany's DAX appreciated 37.66 per cent, followed by Nasdaq (35.85 per cent), France's CAC-40 (22.47 per cent), S&P 500 (19.51 per cent) and the Dow Jones Industrial (20.90 per cent) during the same period.

The BSE-500's whopping gains came from 310 stocks, whose prices appreciated over 100 per cent each in this period. Only nine scrips in the BSE-500 lost in the rally. The prices of 491 scrips appreciated between 6 per cent and 738 per cent.

Of the 500 stocks that make up the index, the prices of eight climbed over 500 per cent, 40 between 300 per cent and 500 per cent and 262 between 100 per cent and 300 per cent.

CESC, the Kolkata-based power company, was the largest gainer, posting a 738 per cent jump from Rs 16 on April 25, 2003, to Rs 134 on Friday on the BSE.

Metal stocks such as Sterlite Industries, Man Industries and Hindustan Zinc gained more than 500 per cent each. The price of the Sterlite Industries scrip increased eight-fold, from Rs 157.90 to Rs 1,208.25, in this period. The Man Industries scrip jumped from Rs 20.60 to Rs 142 and that of Hindustan Zinc from Rs 17.05 to Rs 105.80 on the BSE.

Textiles and mid-cap pharmaceuticals stocks are among the other big gainers during the period. Abhisek Industries, Alok Industries, Pantaloon Retail, Welspun India from textiles, and Divi's Lab, Elder Pharma, Lupin, Matrix Labs, Shasun Chemicals from the pharmaceuticals sector gained more than 300 per cent each.

But not a single company from the BSE Sensex basket posted such gains. Only one in the Nifty basket -- the Steel Authority of India scrip -- appreciated more than 300 per cent during the period.
Deepak Korgaonkar