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How Have The India Letter Stocks Held Up Against China Tremor? - Views on News from Equitymaster
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  • Jan 8, 2016 - How Have The India Letter Stocks Held Up Against China Tremor?

How Have The India Letter Stocks Held Up Against China Tremor?
Jan 8, 2016

The proverbial Chinese sneeze is here again. The 7.3% decline in Shanghai Composite Index led to not just halt in trading, but a global stock market sell-off. India was no exception. The BSE Sensex touched its 52 week low, down 16% from all time high at the beginning of last year.

A colleague shared an interesting piece of statistics with the team yesterday.

At a time when Sensex is at 52 week low, 260 stocks are at 52 week high. Of this, just two stocks belong to the BSE A group, the group of stocks with maximum liquidity. This of course means that investors found value in stocks with lower market caps and hence made a beeline for them. However, it could also mean that investors were in the mood for speculation and have therefore chosen to invest in smaller sized companies.

The BSE-Sensex, which represents a little less than half of the total market capitalisation of listed universe, has declined by 5%. And that too in a period of just a week!

The performance of The India Letter recommendations during the past week has been negative too, with average decline of 3% in this period. The sharpest decline was seen in stocks such as V-Mart Retail (down 17%), Kitex Garments (down 6.1%), Care Rating (down 5.8%) and Vinati Organics (down 4.7%).

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