29 October, 2020

The Red Kerchief

The bull run on the bourses has even the mid- and low-cap stocks rising and shining

Madhu Kapparath
The Red Kerchief
outlookindia.com
-0001-11-30T00:00:00+05:53
The bulls have won round one on the bourses. Barring the technology sector, which is still down in the dumps due to uncertain business climate, stocks all around have seen aggressive buying in the past few months. Shedding the lethargy that dogged them for several months, the BSE Sensex has crossed the crucial 3500-mark, while the Nifty has breached the psychological barrier of 1100.

What's remarkable about the current rally is it's not limited to these 30-50-odd index stocks, but has percolated down to the mid-cap and small-cap stocks. Not only that, the broader market indices have, in fact, outperformed the bluechips. The BSE-200 index, for instance, gained as much as 27 per cent in the last eight weeks, while the broader BSE-500 rose 28 per cent in the same period. Little-known companies have delivered stupendous gains of over 100 per cent, riding on unusually heavy volumes. Arvind Remedies, a B1 group stock, has risen by 112 per cent to touch Rs 7.35, in the last one month, riding on two lakh shares. Oriental Containers has delivered 204 per cent increase in market...
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