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Win some, lose some: February redux for Nifty, not its components

Currently, only 19 Nifty stocks are above their February levels; 31 are still in the red-some as much as 50 per cent

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Analyst say picking stocks from the top 50 universe has become a challenging thing—“stocks with good prospects are richly-valued, stocks that offer value are being shunned by the market.”

The Nifty50 is almost back at 12,000 — a level last seen during February-end. While the index is at a near eight-month high, several of its components are languishing. Currently, only 19 Nifty stocks are above their February levels; 31 are still in the red—some as much as 50 per cent. The list of laggards is dominated by financials (includes banks) and many public sector undertakings (PSUs) — Coal India, Indian Oil and ONGC currently trade 30 per cent below their February levels. Financial stocks have recouped their losses in the latest market up-move but  remain the ...