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Small stocks made a dashing comeback in 2020 after delivering negative returns in the last two years as increased retail investor participation in pandemic times saw small-cap index surging up to 31 per cent and outperforming the bigger benchmark gauge. This year turned out to be eventful for the equity market, witnessing bearish and bullish sentiments at different points of time. While the initial part of COVID-ravaged 2020 saw the bears in full force amid concerns related to the pandemic and lockdowns hurting economic activities, bulls made a comeback towards the latter half of the year. As the market swayed with many lows as well as highs, small and mid-cap indices emerged as markets favourites in 2020.
Tata Steel was the top gainer in the Sensex pack, jumping around 4 per cent, followed by NTPC, PowerGrid, Reliance Industries and Bajaj Finserv.
10 non-bank and non-finance stocks from the BSE500 Index universe that offer an optimal blend of low valuation, reasonably robust revenue and earnings growth in recent quarters, a strong balance sheet, and most importantly, positive cash flow from their operations.
'India has entered an economic super-cycle driven by a housing cycle turnaround.'
The growth was led by family-owned companies and business groups with presence in pharmaceuticals, information technology services, and consumer products.
Persistent selling of the American currency by exporters and bank supported the rupee
The group began to outperform the broader market only with the onset of the pandemic in March 2020 while earlier it was largely keeping pace with the Sensex. The group's market cap is up 164.4 per cent since the end of March 2020 against a 105 per cent rally in the Sensex.
Treesa Jolly and Gayatri Gopichand continued their impressive run, dishing out another superlative performance to advance to their second successive semi-finals at the All England Championships.
Undeterred by the stock market volatility, uncertainty due to the Ukraine-Russia war and high inflation, equity mutual funds continue to remain attractive choice for investors for the 15th straight month, registering a net inflow of Rs 18,529 crore in May on robust SIP numbers. This was higher than Rs 15,890 crore net inflow in April, data from the Association of Mutual Funds in India (AMFI) showed on Thursday. Equity schemes have been witnessing net inflow since March 2021, highlighting the positive sentiment among investors.
Market benchmarks gave up intra-day gains to close in the red for the sixth session on the trot on Friday, capping a bruising week which saw a massive dash for safety amid rate hikes by global central banks and fears of slowing growth.
While the recent volatility in the secondary markets is a concern, experts believe the sentiment towards IPOs is still buoyant.
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While cost pressures could partly offset the expected gains, given the currency hedging by companies the gains will not accrue immediately.
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Forex dealers said besides selling of the American currency by exporters and banks, gains in other Asian currencies against the dollar and a higher opening in the domestic stock market also supported the rupee.
Equity benchmark Sensex rebounded 454 points on Thursday, boosted by gains in index heavyweight Reliance Industries amid a positive trend in global markets.
The foreign investors' attraction for India funds seems to be as restrained as in 2009, with only five such funds launched in the first two months of 2010, mobilising $492 million.
More, many market gurus expect the Sensex to reach 30,000 levels by December and 40,000-45,000 in three to four years.
Retail investors have gained significant heft in the past year amid a sustained uptick in Indian equities. The share of retail investors in companies listed on the NSE reached an all-time high of 7.32 per cent in the quarter ended December 31, 2021, up from 7.13 per cent in the previous quarter and 6.9 per cent a year ago, the data from PRIME Infobase shows. This was despite the Nifty's 1.5 per cent decline during the quarter.
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Mid- and small-cap indices have outperformed the frontline benchmarks - the S&P BSE Sensex (up around 10 per cent) and the Nifty50 (13 per cent) - in the first half of calendar year 2021 (H1-CY21) by rallying 26 per cent and 39 per cent, respectively. The trend, analysts believe, is likely to continue in H2-CY21 as well. The outperformance in H1-CY21 comes on the back of improved earnings and strong inflows from the foreign portfolio investors (FPIs) in Indian equities. However, good monsoon so far, gradual opening up of the economy and the pick-up in the pace of vaccination provides support to the market.
'2018 has seen a bi-polar market.' 'Thanks to gains in some key stocks, market returns are positive. But there has been huge wealth destruction in the small and mid-cap space.'
The broader markets ended firm with mid-caps and small-caps gaining nearly 0.5 per cent on the BSE.
ONGC was the top gainer in the Sensex pack, rallying around 6 per cent, followed by IndusInd Bank, L&T, UltraTech Cement, Titan, SBI and NTPC. NSE Nifty settled 32.10 points up at 14,707.80.
Even though stocks may remain volatile in the run-up to the polls, as political parties stitch up alliances, the long-term trajectory for the markets remains bullish.
India won four gold at the IBA Women's World Championships in a depleted field. To put things in perspective, five of the boycotting nations -- USA, Ireland, Canada, Poland and Netherlands -- had finished in the top-10 in the last two editions of the tournament.
In New York, the dollar was up last Friday against its major rivals following weak German economic data.
Automobile company Tata Motors, metals and mining major Vedanta, oil marketing firm Bharat Petroleum Corporation (BPCL), private sector IndusInd Bank, and two-wheeler major Bajaj Auto have witnessed their market cap slip below the Rs 1-trillion mark this year.
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Titan was the top gainer in the Sensex pack, soaring nearly 7 per cent, followed by ONGC, L&T, Kotak Bank, Axis Bank, Bajaj Finance and HDFC Bank. NSE Nifty soared 114.15 points to end at its lifetime peak of 15,690.35.
HDFC Bank was the top loser in the Sensex pack, shedding nearly 2 per cent, followed by HDFC, Bajaj Finance, NTPC, Maruti, Kotak Bank and PowerGrid. The NSE Nifty fell 24.30 points to 18,044.25.
The broader markets ended mixed with mid-caps gaining 0.1 per cent and small-caps falling 0.1 per cent on the BSE.
Two firms belonging to the Adani group - India's most valued conglomerate - are part of the Nifty 50 index. The group, however, has no representation in the Sensex. And it could stay this way if a proposed index qualification rule change gets approved. Recently, Asia Index, a joint venture between S&P Dow Jones Indices and BSE responsible for index composition, floated a consultation paper where it proposed that a stock must have a derivative contract to be eligible for inclusion in the flagship 30-share Sensex index.
Kotak Bank was the top gainer in the Sensex pack, rising around 3 per cent, followed by HDFC twins, ICICI Bank, Tech Mahindra, Bajaj Finance, Asian Paints and TCS. NSE Nifty surged 142.20 points to 15,098.40.
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The index displayed range-bound (17,400-17,500) movement for the major part of the trading session on Friday. A fresh round of selling towards the close saw the index slip to a low of 17,295 - down 440 points from the previous close. The NSE Nifty dropped 81 points (1.6%) to close at 5,111.
'I would not suggest buying these stocks in the dip, as the upside in profit is dented without a safety net for a rainy day.'
