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Stocks make a strong comeback
Deepak Korgaonkar in Mumbai
 
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October 24, 2007 09:50 IST

The BSE Sensex has recovered 60 per cent of the last week's loss in just two trading days. The benchmark index recovered by 935 points (+56 points yesterday) and (+879 points on Tuesday) after losing 1,492 points last week between October 16 and 19.

Investors, who lost Rs 4.13 trillion (Rs 4.13 lakh crore) in just three trading days last week, have recovered 70 per cent of their loss or Rs 2.90 trillion (Rs 2.90 lakh crore) in the first two trading days of the current week.

A total of 2,225 of the 2,889 actively traded stocks that reported a fall in their market price during the last week regained this week.

STELLAR SHOW

Indices

Oct 19, '07

Loss*

Oct 23, '07

Gain#

Recover(%)

Cons durables

4776.72

115.76

4976.47

199.75

172.60

Healthcare

3714.90

139.12

3852.38

137.48

98.80

FMCG

2021.67

114.26

2128.44

106.77

93.40

Cap goods

15429.29

1684.65

16777.18

1347.89

80.00

Oil & gas

10242.45

752.07

10740.52

498.07

66.20

Bankex

8837.55

1136.58

9563.11

725.56

63.80

Sensex

17559.98

1491.88

18492.84

932.86

62.50

Metal

14480.00

1676.67

15392.09

912.09

54.40

Auto

5296.93

301.85

5452.59

155.66

51.60

Realty

9053.64

1133.67

9568.03

514.39

45.40

* Loss between  Oct 16, 2007 and Oct 19, 2007
#Gain over Oct 19, 2007

As many as 422 stocks recovered their entire losses, while 941 stocks closed at a discount of 5 per cent to their previous week's closing price.

LIC Housing Finance [Get Quote], Surya Pharmaceuticals [Get Quote], Hercules Hoist, Hindustan National Glass and Safari Industries gained over 15 per cent after paring all the losses made in the previous week.

Larsen and Toubro, HDFC [Get Quote], ITC, Hindustan Unilever, Bajaj Auto [Get Quote] and Reliance Communications [Get Quote] were among the Sensex stocks that recovered the entire losses, made in the previous week, in the last two trading days.

However, the daily average combined volumes have declined by 34 per cent in the current week, with 85.61 crore equity shares changing hands on the BSE and the NSE against 129.74 crore shares traded in the previous week.

The daily average volumes of power, telecommunications, sugar and refinery stocks almost halved, while those of Reliance Petroleum [Get Quote], Tata Teleservices [Get Quote], NTPC, PTC, Idea Cellular [Get Quote], Neyveli [Get Quote] Lignite and HCC declined by more than 50 per cent in the current week.

The six sectoral indices of the BSE - capital goods, FMCG, Bankex, oil and gas, healthcare and consumer durables � outperformed the Sensex, appreciating by more than 64 per cent each from their last week's lows.

The metal, realty, mid-cap and small-cap indices were among the underperformers, compared with the Sensex's rise, gaining between 45 per cent and 60 per cent each.

The capital goods index, the largest gainer among the sectoral indices, rose by 1,208.42 points (7.76 per cent) on Tuesday.

The index gained 1,347.89 points in last two trading sessions, recovering 80 per cent of their 1,684.65-point decline in the last week.

The realty and metal indices, which dropped over 10 per cent in the last week, recovered over 45 per cent of their losses.

The realty index gained 514.39 points this week compared with a loss of 1,113.67 points last week, while metal index, which lost 1,676.67 points in the previous week, rose by 912.09 in the last two trading sessions.

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