Sensex and Nifty Getting Double Digits Gains in 2020
Ever since the indices came down to their lowest in March with the COVID fear rising, the bulls have been trying their best to get good results. Finally, their efforts gave Sensex and Nifty double-digits gains in 2020.
The BSE saw around 200 stocks soar more than 100%. Even many penny stocks logged considerable gains.
With a 1,207% rise in share price from Rs 17.06 on 31st December last year to Rs. 222.95 on this December 23rd, Biofil Chemicals' Pharmaceuticals became the biggest wealth creator of 2020. This simply means that if you had invested Rs. 10,000 in the company last year, it would have become Rs 1.30 lakh today.
Tanla Platforms is a cloud communications service provider that has managed to deliver more than 1000% returns to investors in the last two years. The stocks are up b 795%.
Alok Industries stock went up by 606%. It gained momentum after Reliance Industries took over the company. In the last one year, a growth between 280% and 525% was projected by companies like Bharat Immunologicals & Biologicals, Venus Remedies, Vardhman Polytex, AGC Networks, Standard Batteries, Aarti Drugs, Subex, Laurus Labs, Gujarat Themis Biosyn, Mangalam Drugs, IOL Chemicals and CG Power.
The BSE Sensex advanced to 46,444 on December 23 from 41,253 on 31st December last year.
Despite the Sensex hitting a 52-week low of 25,639 in March, it touched above 46,000 in December for the first time due to government and central banks’ liquidity measures and foreign institutional investors.
In Sensex pack, Dr Reddy’s Labs became the top gainer followed by Infosys (up 62%) and HCL Technologies (up 62%).
IndusInd Bank, ONGC, Axis Bank and SBI are down over 21% year to date.
Head of Research, IDBI Capital, AK Prabhakar, is expecting Nifty and Sensex to top 15,000 and 51,000 by 2021 end respectively.