21 BSE500 stocks cash in to deliver double-digit returns as markets scale new highs
markets rose for the fifth consecutive week driven by strong GDP data and a bullish trend seen in global markets. Return of FIIs, multiple upgrades of India’s economic growth by global firms, added to the overall positivity, analysts said.
The IPO market also continued its momentum, which has seen five listings and out of which, four have exceeded expectations, led by Tata Technologies.
During the week, 21 BSE500 stocks have delivered double digit weekly returns with Adani Total Gas leading the way at 30% gain.
Aster DM Healthcare and Adani Energy Solutions followed closely with 19% and 17% returns, respectively.
The other stocks which rose in double digits included Torrent Power, NBCC, Power Finance, TV18 Broadcast, Amara Raja Energy, BHEL among others.
In the smallcap space, 38 stocks offered double digit returns to investors during the week. The top three gainers were Navkar Corp (32.7%), Datamatics Global (23.2%) and Tanfac Industries (21.56%).
In the midcap segment, about 5 stocks including Torrent Power, PFC, BHEL among others have risen in double digits.
While Torrent Power has gained 16.56%, Power Finance Corp and BHEL were up over 10% each.
Among the Sensex pack, Axis Bank topped the charts with 9.4% returns, followed by NTPC at 5.97% and Tech Mahindra at 5.6%.
The broader market has also outperformed, with mid and small caps displaying resilience and no signs of fatigue, according to analysts.
What should investors do?
In the upcoming week, investors’ attention will mostly be directed towards the release of service PMI data from the US, India, and China. Further, the RBI policy meeting outcome, where the central bank is likely to opt for a status quo, will give some cues to the market.
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