The Nifty has hit fresh all-time high of 7835, its third record in a month but the euphoria is masked by rather harsh reality.
As many as 33 stocks in the Nifty basket along with CNX small cap and CNX mid-cap remained far removed from the partying crowd. The two indices have underperformed to the extent of -5.3 percent and -4.3 percent, respectively since July 8 — the day Nifty made its previous all-time high of 7808.
Interestingly, the Indian stock market is one of the top performers in the world today, but sort by market capitalization and you will find its current USD 1.49 trillion is lower than USD 1.62 trillion witnessed in 2010, says a report in ET.
Let us examine Nifty out performers that led the Nifty to 7809 level.
Here’s the list of top Out performers.
It is apparent that the ride to this new level was shouldered by only six stocks.
Bulk of the Nifty constituent have moved away from their July 8 levels, with BHEL surfacing as the top loser.
Here’s the list of top under performers.