The performance of the Indian stock market since the last budget has been quite mixed.
highlights
- The performance of the Indian stock market since the last budget has been quite mixed.
- During this period, some stocks in the equity market gave excellent returns to investors, while many big names disappointed.
- Metal, defense and financial stocks showed gains, while FMCG and IT stocks remained under pressure.
The performance of the Indian stock market since the last budget has been quite mixed. During this period, some stocks in the equity market gave excellent returns to investors, while many big names disappointed. Sectoral and stock-specific trends were clearly visible in this post-Budget period, where metal, defense and financial stocks showed gains, while FMCG and IT stocks remained under pressure.
Which Nifty stocks gave returns
Talking about gainers, Shriram Finance has emerged as the biggest winner of this period. There was a tremendous rise of about 87.5 percent in the company’s shares, which led to a huge increase in the wealth of investors. After this comes Hindalco Industries, which gave a return of about 61.9 percent. This stock benefited from strong demand in the metal sector and rise in prices.
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Defense sector giant Bharat Electronics Limited (BEL) also performed brilliantly and its shares registered a rise of about 53.4 percent. Tata Steel shares also showed strength and gained 43.4 percent. Whereas from the insurance sector, SBI Life Insurance gave satisfactory profits to the investors by giving a return of about 39.3 percent.
Which stocks of Nifty 50 declined?
Some big and reliable stocks disappointed during this period. Retail sector company Trent was the biggest loser, whose shares fell by about 34.2 percent. Shares of FMCG sector giant ITC also witnessed a weakness of about 28 percent. The pressure on the IT sector was clearly visible, where shares of both Wipro and TCS fell by about 24-24 percent. In the auto sector, the share of passenger vehicle unit of Tata Motors also saw a decline of about 19.25 percent.
Shares in action in Nifty Bank Index
Talking about Nifty Bank Index, the picture was better here. Among banking stocks, government and small finance banks performed brilliantly. AU Small Finance Bank shares saw a rise of about 63 percent. Apart from this, Canara Bank gave returns of about 58 percent, Union Bank 56.5 percent and Federal Bank 53.7 percent. Shares of Bank of Baroda (BOB) also rose by about 40.3 percent.
However, not all stocks in Nifty Bank performed well. IndusInd Bank remained under pressure during this period and its shares declined by about 10 percent.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice in any way. ET NOW Swadesh recommends its readers and viewers to consult their financial advisors before taking any money-related decisions.
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