The share of the top 10 companies in the total traded turnover on the Bombay Stock Exchange and the National Stock Exchange has declined from 54.7 per cent in 2002-03 to 44.5 per cent in 2003-04.
Whereas the total turnover itself increased 70.2 cent from Rs 9,31,880 crore (Rs 9,318.80 billion) in 2002-03 to Rs 15,85,808 crore (Rs 15,858.08 billion) in 2003-04, the turnover of the top 10 companies increased 38.7 per cent from Rs 5,09,312 crore (Rs 5,093.12 billion) to Rs 7,06,229 crore (Rs 7,062.29 billion).
This essentially means that side counters have been able to corner a bigger share of a rapidly growing market, to the detriment of the top ten favourites.
The Satyam Computer scrip retained its top position, clocking a turnover of Rs 1,22,055 crore (Rs 1,220.55 billion) in 2003-04, 6.1 per cent higher over a turnover of Rs 1,15,031 crore (Rs 1,150.31 billion) in 2002-03.
Software major Infosys Technologies which was at number two in 2002-03 slipped to the number 3 position this year as turnover on the Infosys counter stood at Rs 98,555 crore (Rs 985.55 billion) in 2003-04.
Reliance Industries which was at number five in 2002-03, now ranks second in the list. Turnover on the Reliance counter grew a whopping 180 per cent from Rs 36,476 crore (Rs 364.76 billion) to Rs 1,02,072 crore (Rs 1,020.72 billion) in 2003-04.
Old economy stocks once again roared back into the list of top ten most-traded stocks in 2003-04. Tata Steel comes back into the list this year at the 4th place, with a turnover of Rs 94,427 crore (Rs 944.27 billion), SBI ranks 5th [Rs 74,266 crore (Rs 742.66 billion)], Tata Motor 6th [Rs 58,299 crore (Rs 582.99 billion)], SAIL at number 8th [Rs 40,658 crore (Rs 406.58 billion)] and HPCL at 10th place [Rs 33,815 crore (Rs 338.15 billion)].
Reflecting the market sentiment, five stoftware stocks, namely Aftek Infosys, Mastek, Polaris Software, VisualSoft Technologies and Wipro have been edged out of the top ten list.
Another software company, Digital GlobalSoft slipped from the 3rd position last year to the 9th spot in 2003-04. The Maruti Udyog scrip, which was listed during the year, ranked at number 7th with a turnover of Rs 48,156 crore (Rs 481.56 billion).
The group-wise classification shows that the turnover of Group A shares increased 74.6 per cent from Rs 8,29,893 crore (Rs 8,298.93 billion) in 2002-03 to Rs 14,48,645 crore (Rs 14,486.45 billion) in 2003-04 while that of Group B1 stocks increased 33.7 per cent from Rs 91,645 crore (Rs 916.45 billion) to Rs 1,22,570 crore (Rs 1,225.70 billion), of group B2 shares by 192.9 per cent from Rs 1,859 crore (Rs 18.59 billion) to Rs 5,446 crore (Rs 54.46 billion). The combined turnover of group T and Z stocks increased 52.3 per cent, from Rs 413 crore (Rs 4.13 billion) to Rs 629 crore (Rs 6.29 billion).
The industry-wise classification shows that information technology sector stocks still lead the toppers list with a Rs 4,20,057 crore (Rs 4,200.57 billion) turnover, 30 per cent lower than the Rs 5,96,339 crore (Rs 5,963.39 billion) turnover in the previous year.
Bank stocks were the second most traded, with a turnover of Rs 2,01,010 crore (Rs 2,010.10 billion), 526 per cent higher over the Rs 32,098 crore (Rs 320.98 billion) turnover in the previous year.
Composite and alloy steel sector ranked third in the list with Rs 1,42,225 crore (Rs 1,422.25 billion) turnover, followed by diversified firms [Rs 1,25,331 crore (Rs 1,253.31 billion)], refineries [Rs 96,987 crore (Rs 969.87 billion)], pharmaceuticals [Rs 62,634 crore (Rs 626.34 billion)] and commercial vehicles [Rs 61,203 crore (Rs 612.03 billion)].
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