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ICICI Bank, L&T, SBI up over 15% in Sensex's 2000-point rally in 3 weeks

HDFC, Maruti Suzuki India, Reliance Industries, Bharti Airtel and Adani Ports too outperformed the market by gaining in the range of 8% to 14% since October 26, 2018.

Deepak Korgaonkar  |  Mumbai 

Sensex

Shares of ICICI Bank, Larsen & Toubro (L&T), State Bank of India (SBI) and Axis Bank were among the S&P BSE Sensex index stocks, rising over 15% during benchmark index's over 2,000-point rally in three weeks.

At 12:45 PM; the S&P BSE Sensex was trading at 35,464 levels, rallied 2,115 points or 6.3% from its October 26 level of 33,349.

Housing Development Finance Corporation (HDFC), Maruti Suzuki India, Reliance Industries, Bharti Airtel and Adani Ports too outperformed the market by gaining in the range of 8% to 14% during the period.


The equity market bounced back from its recent low on account of continued foreign fund inflow and appreciating rupee. Positive leads from the US markets on optimism that the US and China may resolve their trade dispute too influenced sentiments.

Thus far in November, foreign portfolio investors (FPIs) have made net inflow of Rs 29.67 billion in equities till Thursday, provisional data shows. They had reported a record net outflow of Rs 292 billion during the month October.

The beaten down stocks from the sectors such as cement, paints, oil marketing companies, consumption led by fast moving consumer goods, aviation and financials outperformed the S&P BSE Sensex in the past three weeks.

Around 226 stocks from the S&P BSE 500 index beat the market by gaining over 7% during the period. Linde India, Jet Airways, PNB Housing Finance, Adani Transmission, Adani Power, Bandhan Bank and Radico Khaitan were up in the range of 25% to 63%.

ICICI Bank (Rs 375) and Divi’s Laboratories (Rs 1,574) were trading at their respective all-time high level after reporting a better-than-expected September quarter (Q2FY19) result.

L&T touched an intra-day high of Rs 1,413 today, was 4% away from its record high level of Rs 1,470.

"Engineering & Construction (E&C) companies positively surprised on execution across the board. Our coverage universe saw 20% YoY revenue growth after 27 quarters of sluggish trend. 1H EBITDA margins and order flow also touched highs after 5 years. This possibly reflects uptick in underlying economic activity apart from pre-election push. L&T is 56% of revenues in our universe. However, the strength in numbers appears reflected across companies. L&T, Voltas, ABB, KEI remain our top picks," said analysts at Jefferies in a recent report.

HDFC up 2% at Rs 1,890, gained 14% from its recent low of Rs 1,660 touched on October 22, 2018. The stock hit an all-time high of Rs 2,051 on July 30 this year.

Company 26/10/2018 LTP % chg
Power Fin.Corpn. 83.95 104.25 24.2
Divi's Lab. 1253.90 1555.20 24.0
UPL 621.70 764.00 22.9
Piramal Enterp. 1921.30 2302.55 19.8
Cummins India 672.05 801.05 19.2
Pidilite Inds. 934.50 1112.05 19.0
ICICI Bank 315.05 369.20 17.2
Container Corpn. 574.90 673.70 17.2
B P C L 274.65 321.15 16.9
Larsen & Toubro 1197.95 1396.40 16.6
UltraTech Cem. 3384.45 3939.30 16.4
Shree Cement 13586.60 15789.60 16.2
Axis Bank 537.35 622.40 15.8
Marico 299.80 346.10 15.4
St Bk of India 248.10 285.75 15.2
Shriram Trans. 1072.20 1230.65 14.8
Apollo Hospitals 1084.45 1242.40 14.6
Titan Company 807.00 922.50 14.3
Ambuja Cem. 190.35 217.10 14.1
Adani Ports 304.30 346.50 13.9
Bajaj Holdings 2633.50 2986.25 13.4
Eicher Motors 21802.20 24642.80 13.0
LIC Housing Fin. 405.30 457.25 12.8
ACC 1348.60 1521.00 12.8
Bank of Baroda 98.90 111.05 12.3
Indiabulls Hous. 685.05 766.00 11.8
Britannia Inds. 5319.90 5935.25 11.6
Havells India 602.00 671.25 11.5
Maruti Suzuki 6705.25 7449.80 11.1
M & M Fin. Serv. 390.35 433.60 11.1
H D F C 1701.40 1889.75 11.1
Tata Power Co. 68.95 76.50 10.9
Nestle India 9540.45 10577.00 10.9
Asian Paints 1189.45 1318.00 10.8
Tech Mahindra 652.35 720.10 10.4
Glenmark Pharma. 593.05 652.95 10.1
Sensex 33349.30 35464.00 6.3
LTP : last traded price on BSE in Rs at 12:45 PM
Stocks from S&P BSE 100 index

First Published: Fri, November 16 2018. 13:07 IST
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