Ahmedabad: Recently the stock market has seen a surge in benchmark indices like Sensex and Nifty. However, most shares still have not reached their previous high levels. According to the data, 72 percent or 41 Nifty stocks are still trading below the level where the market was at its peak on September 27, 2023. The Nifty 50 index is currently just 5% below its all -time high levels and is almost 14% from 21,750 after a recent decline. But this improvement is visible in a few select shares.
S&P 500 data also shows that more than 72% stocks are still trading at a low price by September 27, 2023. Not only this, every fourth share or about 28% shares are still more than 20%.
According to research experts, only 30–35 companies have seen this jump in the top 750 companies. It is a bull market, Mrigatrishna, which means the bull market, but the bull market does not exist.
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According to S&P 500 data, 54%in shares of Sterling and Wilson Renewables, 51%in Adani Green Energy shares, 49%in shares of Ola electric mobility, 46%in brainbiz solutions and 46%in IndusInd Bank shares. All this is still far below the highest level of the previous year.
However, some stocks have seen a tremendous increase. In which JSW holdings shares have increased by 156%, 98% in BSE and 67% in shares of transformers and rectifiers by 67%. Defense -related government companies such as Majgaon Dock (61%), India Dynamics (62%) and Garden Reach Shipbuilders (45%) are also among the top beneficiaries.
Technical experts believe that signs of long -term rally in the market are still clear. The Nifty has recently rapid recovery of 3,000 points and is trading above the 50-day moving average, a positive sign. This fast is led by select areas such as banking and big shares like Reliance Industries.
The SIP investment flow in the fund sector is at record level and strong purchases are being done from both FII and DII.
