These Nifty50 stocks jumped up to 50% as index reclaimed Mt 18K

Benchmark index Nifty50 topped the 18,000 mark on Tuesday, rising about 2,900 points from its 52-week low of 15,183 hit on June 17 this year.

During this quarter, about two dozen of the index constituents outperformed the index to push it to the key psychological levels. Only Nifty50 stocks have delivered a negative return since then.

Market experts attribute this rally to various reasons, including peeking out of inflation, steep fall in the crude oil prices, inflows from global investors, higher retail participation, India Inc's earnings and solid growth prospects.

Naveen Kulkarni, Chief Investment Officer, Axis Securities PMS, said the current market buoyancy globally, including in India, is based on the expectation that inflation has peaked with softening crude prices.

He believes that the expectation of inflation peaking is right, but one will have to keep an eye on energy prices in Europe and US with the onset of winter, which can re-ignite the inflation fire.

Sunil Damania, Chief Investment Officer, MarketsMojo, said Demat accounts in India crossed 10 crore, FII's have returned, and India Inc's earnings and Moody's report suggests that global events will not impact India's growth story.

Bajaj Finserv has topped the charts as the stock advanced 48 per cent to Rs 1713.81 (adjusted price) on Monday, September 12, from its close at Rs 1175.5 on June 17. The scrip zoomed another 8 per cent on Tuesday.

It is followed by private sector lender which jumped 41 per cent to Rs 1,136.85 on Monday from Rs 806.90 on June 17. Adani Ports and SEZ advanced 40 per cent to settle at Rs 938.5 on Monday.


Titan Company, and also zoomed 36-37 per cent each during the period under review, whereas Bajaj Finance, Shree Cement and Asian Paints also saw a more than a one-third rise in their stock prices.

Ultratech Cement, ICICI Bank, Larsen & Toubro, Mahindra & Mahindra, , Coal India, Axis Bank, and ITC advanced between 25-33 per cent in these three months. is going to be excluded from the Nifty50 index from September 30, whereas Adani Group's flagship firm will replace the cement maker.

JSW Steel, , , , Bharti Airtel and Tech Mahindra also outperformed the Nifty50 index during the given period.

Only two counters- and Oil & Natural Gas Corporation - delivered negative returns during the period, whereas , Wipro, Dr Reddy's Labs and delivered a flat return of less than 5 per cent.

Experts suggest the rally is not over and domestic markets have more steam left. India is in a very sweet spot where growth would be high and inflation low while some suggest partial profit-booking.

The market will continue to do well, said Damania. "India's PLI scheme, China plus one strategy, India among the fastest growing economies in the world and inflation continuing to remain soft are all indicators that the market should do well."

Kulkarni suggested that investors book some profit at the current levels, even though the current momentum in the equity markets can sustain. He advises re-entering the markets on corrections.

(Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of Economic Times)