Top companies that contribute 1000-point on Nifty in last 3.5 months

Eicher Motors, HUL, Kotak Mahindra Bank, Maruti Suzuki and UltraTech from Nifty50 hit record highs

Shares of financials including banks and non-banking financial companies (NBFCs), cement, oil & gas and automobiles companies contributed over 1000 points rally on Nifty in the past three-and-half months with Nifty50 closing at a record high of 9,407 on Wednesday. 

The gains in the index came after India Meteorological Department (IMD) forecast above average monsoon rainfall in 2017. The 50-share index has rallied 1,015 points or 12% from its recent closing low of 8,392 on January 23, 2017.

Kotak Mahindra Bank, HDFC Bank, ICICI Bank, State Bank of India, Indiabulls Housing Finance, Bank of Baroda, Housing Development Finance Corporation (HDFC), Axis Bank, YES Bank and IndusInd Bank from the financials rallied upto 43% during the period.

ACC, UltraTech Cement and Ambuja Cements from cement and Maruti Suzuki (India) and Eicher Motors from automobiles, Larsen & Toubro and Adani Ports from infrastructure and Reliance Industries, Indian Oil Corporation and Gail (India) from the oil & gas sector have gained between 15% and 31%.

Five stocks – Eicher Motors, Hindustan Unilever, Kotak Mahindra Bank, Maruti Suzuki (India) and UltraTech Cement from the Nifty 50 index – hit their respective all-time highs on the NSE in intra-day trade today.

"IMD’s latest rainfall forecast indicates of above normal monsoon in 2017 which bodes well for the economy. Last year, we had a normal monsoon season which has helped in softening the food inflation and strengthening the rural economy,” said Vaibhav Agrawal, head of research and ARQ, Angel Research.

With the strong rainfall this year, we believe that economy will continue to see higher farm output which will ease the inflation worries further. Optimistically speaking, this may lead to lower the interest rates further. Considering the juncture at which Indian markets are, strong monsoon helps in fortifying the confidence in our economy. We believe that this is likely to be the next trigger for the markets, added Vaibhav Agrawal.

As such, the markets are on an upward trajectory supported by an improvement in the country’s fundamentals. This is clearly reflecting in the earnings growth too that has improved from the levels seen 3-4 quarters back,” said YES Securities (India) in its monthly compass.

Although recovery is yet to be broad-based, nevertheless earnings are on a path of improvement too. Fundamentals are expected to improve on the back of improving macroeconomic factors with recovery led by consumption, followed by public sector capex and external demand improvement; benefits of reforms percolating to the ground level and conducive inflation/interest rate environment, added the report.

COMPANY	23/01/2017	10/05/2017	% chg
INDIABULLS HOUS.	755.00	1082.90	43.4
RELIANCE INDS.	1015.95	1359.10	33.8
GRASIM INDS	882.90	1166.45	32.1
KOTAK MAH. BANK	730.85	927.65	26.9
ACC	1335.85	1690.35	26.5
H D F C	1258.75	1572.00	24.9
LARSEN & TOUBRO	1393.50	1739.25	24.8
HDFC BANK	1244.80	1551.80	24.7
ULTRATECH CEM.	3518.10	4367.55	24.1
I O C L	357.65	441.45	23.4
ADANI PORTS	286.35	351.90	22.9
EICHER MOTORS	22727.95	27869.30	22.6
BANK OF BARODA	154.15	185.55	20.4
ASIAN PAINTS	964.25	1158.30	20.1
AXIS BANK	445.10	526.35	18.3
GAIL (INDIA)	353.21	417.50	18.2
MARUTI SUZUKI	5703.80	6737.75	18.1
AMBUJA CEM.	220.10	259.70	18.0
BHARTI AIRTEL	319.40	372.75	16.7
INDUSIND BANK	1231.50	1431.90	16.3
ST BK OF INDIA	254.10	294.45	15.9
M & M	1188.10	1376.40	15.8
YES BANK	1381.10	1598.40	15.7
HIND. UNILEVER	863.25	996.35	15.4
ICICI BANK	257.45	296.65	15.2
BOSCH	21239.45	23214.00	9.3
B P C L	676.35	728.25	7.7
BAJAJ AUTO	2707.40	2904.80	7.3
HERO MOTOCORP	3099.55	3323.85	7.2
ZEE ENTERTAINMEN	483.00	516.20	6.9
ITC	259.45	273.95	5.6
BHARTI INFRA.	347.55	366.65	5.5
TATA POWER CO.	77.40	81.55	5.4
POWER GRID CORPN	200.10	210.50	5.2
WIPRO	479.30	499.65	4.2
HINDALCO INDS.	181.30	187.10	3.2
SUN PHARMA.INDS.	634.50	642.80	1.3
TCS	2305.70	2332.45	1.2
INFOSYS	951.75	943.65	-0.9
HCL TECHNOLOGIES	857.15	843.60	-1.6
CIPLA	576.85	561.05	-2.7
NTPC	169.95	162.20	-4.6
TATA STEEL	461.65	437.45	-5.2
O N G C	199.80	187.95	-5.9
COAL INDIA	303.55	278.55	-8.2
TECH MAHINDRA	469.20	430.40	-8.3
AUROBINDO PHARMA	692.75	618.95	-10.7
DR REDDY'S LABS	2926.95	2602.85	-11.1
LUPIN	1482.50	1258.90	-15.1
TATA MOTORS	532.15	432.30	-18.8
TATA MOTORS-DVR	333.45	263.35	-21.0
NIFTY 50	8391.50	9407.30	12.1