Stock performance remains polarized even as Sensex, Nifty scale new highs

Morgan Stanley remain bullish on consumer discretionary, industrials, financials, and technology; and remain underweight all other sectors

Even as the S&P BSE Sensex and the Nifty50 gain ground and hit record levels, select stocks that comprise these two indices are still trading far away from their respective all-time highs. The performance at the bourses, data shows, remains polarized with the information technology (IT) counters taking the brunt of investors' ire amid recession fears and remaining laggards in the recent bull-run.

Sample this.

Shares of Wipro hit a 52-week high of Rs 726.7 on January 03, 2022, while those of Tech Mahindra did so on December 30, 2021 at Rs 1,837.8. At the current levels, both these counters