In the last 1 month, Indian stocks have corrected 7%, the biggest monthly correction in more than 5 years but some of the stocks have shown flexibility. With this in the past two weeks also like a majority of the stock struggled.
TCS, Deepak Nitrate, Zensar Technologies, Cyient, AIA Engineering, L&T Technologies, Divi’s Lab and Biocon among others stood like a rock among the broad-based in current market sell-off. For instance, shares of Cyient which gained 30 % between January 1 and September 15 further have risen 4% since September 15 when almost all midcaps have slumped. Analysts believe Cyient’s performance in FY19 will be better than that of its peers. Same is the case of stocks or sector lead.
Rising crude, falling rupee and forthcoming elections for state assembly have weighed down investor sentiment in Indian markets. According to the Analysts weaker rupee and a strong US economy are prompting investors to opt for shares of exporters.
“Heightened risk aversion because of falling rupee and rising crude has sent shivers through the market and as a result, investors are assembling to safe haven sectors like pharma, IT and metals”.“Falling rupee has clearly acted as a hedge to several of these companies”.
Get The Latest Stock Updates, Equity Tips, Share Market Tips, Stock Market Tips, Intraday Tips @ Investelite Research