Auto, IT stocks rally past Jan 08 peaks ahead of Sensex

The Sensex has managed to more than double from its March lows in the past six months. The index had ended at 8,160 on March 9, 2009. However, renewed buying interest followed by UPA's historic victory and better-than-expected corporate results helped the index to surge 105% to this year's high of 16,741 on September 18. Off late the rally has been driven by momentum backed by comfortable liquidity and feel good factor worldwide on hopes of faster economic recovery.

Similarly, the Sensex-30 stocks have also shown good gains during this period - some even outperforming the benchmark index.

Tata Motors has soared over 338% to Rs 598. Other auto stocks- Mahindra & Mahindra and Maruti Suzuki have also shown a jump of 178% and 152%, respectively.

TOP GAINERS FROM MARCH LOWS
Company Name	18-Sep-09	9-Mar-09	% Chg
Tata Motors	598.95	136.69	338.18
Jaiprakash Associates	256.85	65.84	290.11
Hindalco	137.70	37.90	263.32
Tata Steel	518.05	152.30	240.15
ICICI Bank	843.35	262.95	220.73
(Data: BS Research Bureau)

Metal and realty stocks are among the other top outperformers. Jaiprakash Associates has soared 290%. DLF, L&T and Reliance Infrastructure have zoomed around 200% each. Among metal companies, Hindalco has rallied 263%, while Tata Steel and Sterlite have surged over 200% each.

ICICI Bank and SBI have added 100-200% each.

However, depsite the recent surge, the Sensex still is down 20% compared to its all-time closing high of 20,874 on January 8, 2008.

Again among the index stocks - DLF, Reliance Communications, Reliance Infrastructure, Jaiprakash Associates and Tata Steel are down 42-63%, respectively.

Yet, there are always some exceptions. Hero Honda has gone against the general trend of the broader market and has in fact soared 143% from Januray' 08 levels. Maruti Suzuki has rallied 74% in the same period.
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TOP GAINERS SINCE JAN PEAK'S
Company Name	18-Sep-09	8-Jan-08	% Chg
Hero Honda	1678.50	690.10	143.23
Maruti Suzuki	1640.85	939.65	74.62
Infosys Technologies	2363.80	1662.15	42.21
TCS	583.80	495.27	17.88
Wipro	568.20	487.90	16.46
(Data: BS Research Bureau)

IT stocks too have recouped their losses. Infosys has gained 42% as compared to its 2008-high. TCS and Wipro have added 16-18% each.