Though indicative indices have performed well in recent times, the bourses have not posted gains in line with this trend.
During the first quarter of 1999-2000, the 30-scrip Bombay Stock Exchange (BSE) Sensitive Index (Sensex) rose by 16.6 per cent, Nifty was up by 15.04 per cent, and the Crisil-500 surged by 10.77 per cent. Meanwhile, large parts of the market remained unaffected.
The rally during the quarter has been primarily restricted to Sensex stocks and a few speculative `A' group shares.
During the period, the Sensex went up by 600 points (16.6 per cent), while `A' group stocks posted a rise of 14 per cent.
During the same period, the stocks in `B1' group appreciated by 7.4 per cent, while those in `B2' registered a dip of 4.7 per cent. There were 35 losers from the `A' group.
The investors' response to `B1' and `B2' shares remained lukewarm. `B1' group had 650 losers, while `B2' group witnessed 975 stocks declining further over their March 26 market price. During the period, only 65 out of the 149 `A' group stocks outperformed the Sensex.
From the B1 group,
