Nifty Hits Fresh Record High; Sensex Up Over 330 Points

Mon, 20 Aug 12:30 pm

   Previous Close   

   Pre-Open   

   09:30 am   

   Closing   

After opening the day on a positive note, stock markets in India continued their momentum and went on to scale their record-high levels. Sectoral indices are trading on a positive note with stocks in the energy sector and capital goods sector witnessing maximum buying interest.

The BSE Sensex is trading up 337 points (up 0.9%). The NSE Nifty hit a new record high of 11,560 and is presently trading up 87 points (up 0.8%). The BSE Mid Cap index is trading up by 0.9%, while the BSE Small Cap index is trading up by 0.4%.

The rupee is trading at 69.71 to the US$.

Speaking of rising markets, note that the BSE Sensex is up by around 21% in the current year.

But the real picture can't be further from the truth. Only 12 stocks are responsible for Sensex touching their lifetime highs. TCS, Infosys, Reliance along with few other stocks have led to this outperformance.

The top 12 stocks have returned 25.5% on an average while the other 19 stocks in the Index have declined by 12% on an average, as can be seen from the chart below:

Sensex Return Skewed by Top 12 Stocks

What has led to this divergence?

As Girish Shetty, Research Analyst at Equitymaster, writes in a recent issue of The 5 Minute WrapUp...

• Corporate governance issues at mid and small cap companies have led to their corrections from sky high valuations a year ago.
  
  Even among Sensex stocks, Tata Motors, Vedanta, and Bharti Airtel have performed poorly due to structural issues in their businesses.

What happens when these top 12 stocks fail to meet the market's expectations?

Well, there's a possibility they might take down the other 19 stocks and the index further with them. In such a situation, despite the recent correction, mid and small caps won't be safe either.

In other news, Gitanjali Gems share price, Panoramic Universal share price, and Amtek Auto share price are witnessing selling pressure today. The scrips of these stocks hit their lower circuit limits after NSE and BSE announced that they will suspend trading in these firms from September 10.

As per the news, BSE and NSE are said to suspend trading in the shares of as many as nine companies from September 10 for not complying with listing norms pertaining to submission of financial results.

However, according to separate communications from the exchanges, if any company complies with the provisions of the LODR (Listing Obligations and Disclosure Requirements) Regulations on or before the date prescribed by the exchanges, the trading in its security will not be suspended.

From the IT sector, Infosys share price is also witnessing selling pressure today. Losses are seen on the back of the resignation of Chief Financial Officer (CFO) MD Ranganath. The company has informed stock exchanges that it will immediately commence the search for the next CFO.

At the time of writing, Infosys share was trading down by 3.1% on the BSE.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary

Top Gainers TodayTop Gainers over 1-WeekTop Gainers over 1-MonthTop Gainers over 1-YearTop Gainers over 3-YrsTop Gainers over 5-YrsTop Losers TodayTop Losers over 1-WeekTop Losers over 1-MonthTop Losers over 1-YearTop Losers over 3-YrsTop Losers over 5-YrsOnly BuyersOnly SellersMost Active StocksMost Popular Stocks52 Week High Stocks52 Week Low Stocks

INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

10 results 25 results 50 results 100 results All results

Indian Share Market Update: Top Gainers and Losers