Sensex on a slide in 2010, but 46% stocks clock gain

The BSE Sensex, the bellwether index, has lost 7.51 per cent in 2010 so

far but that does not mean investors haven't generally made any gains. An analysis of year-to-date returns for all BSE-listed stocks shows that around 1,370 stocks have clocked positive returns amongst the 3000-odd securities for which data was available on Capitaline database. This means 46 counters out of every 100 have given investors positive returns, if they invested in the last trading day of calendar 2009.

Leading the return charts for 2010 (till date.) are stocks such Inwinex Pharma. (698.45 per cent), Subuthi Finance (254.05 per cent), Insutech India (212.50 per cent), Integ. Hitech (166.49 per cent), Unimin India (147.60 per cent), M K Exim India (134.69 per cent), Odyssey Corpn. (133.54 per cent), Golden Sec. (132.87 per cent), Roselabs (121.73 per cent), Natl.Fertilizer (114.27 per cent), Hind.Copper (110.63 per cent), Fame India (110.24 per cent), Ceekay Daikin (109.48 per cent) and Tirupati Sarjan (108.33 per cent). Apart from Fame India - which is being acquired by Inox Leisure - all the other names are little-known BSE counters.

Ordinarily, around 2,600-2,900 scrips are traded everyday on the BSE with more than 50 per cent belonging to the B Group while the others like A Group, BSE Indonext and T Group accounting for another 45 per cent of traded stocks.

Amongst known names which have given 50-75 per cent gains in the 29 trading days so far in 2010, stocks such as Solvay Pharma (74.31 per cent), Rane Engine Val. (70.53 per cent), Parenteral Drugs (63.56 per cent), Hind.Natl.Glass (59.41 per cent), Poly Medicure (55.72 per cent), Ahmednagar Forg. (53.64 per cent) and KGN Industries (51.62 per cent) come into prominence.

A majority of the stocks that figure in the year-to-date gainers list come from the small-cap and micro-cap category which are risky for investors. Market experts said that most of these stocks do not offer liquidity to investors and trading volumes are not high. "Investors should be selective in their approach. Just going after returns may not help and can actually lead to losses. While mid-caps and small-cap stocks offer value in the long-term, short-term bets are not encouraged especially with the budget so close," said Kishor P Ostwal, CMD, CNI Research. Well-know names start appearing form the 30-50 per cent gainers list. Stocks which gained between 30-50 per cent include the likes of Spanco Ltd (48.07 per cent), HMT (43.89 per cent), Kwality Dairy (42.62 per cent), Monnet Inds. (39.31 per cent), Goodyear India (39.29 per cent), KRBL (38.91 per cent), WABCO-TVS India (38.19 per cent), Almondz Capital (37.76 per cent), Dhampur.Spl.Sug. (36.90 per cent), Sonata Software (36.35 per cent), ABG Shipyard (35.66 per cent), Magma Fincorp (35.24 per cent), Kinetic Motor Co (32.93 per cent) and Sh.Ashtavinayak (29.03 per cent). "Forthcoming week, market is expected to open positive and remain in range bound. Nifty closing at higher levels supports for positive opening .Yet IIP data and other global economic data for the week ahead would dictate the trend," said M R Lalitha, research-head, Aditya Birla Money, in her weekly market note.

Heading the year-to-date losers chart are names including Exelon Infra (-66.16 per cent), Sanwaria Agro (-44.47 per cent), Rama Newsprint (-43.08 per cent), Rishabhdev Tech. (-33.70 per cent), Lawreshwar Polymer (-33.06 per cent), Manaksia (-32.04 per cent), Accel Frontline (-31.82 per cent), Bajaj Hind Sugar (-29.23 per cent), Bombay Talkies (-28.44 per cent), Subex (-28.10 per cent).

The BSE Sensex heavyweights such as Reliance Inds. (-6.93 per cent), Infosys (-4.13 per cent), ICICI Bank (-5.64 per cent), L&T (-13.79 per cent), ITC (-1.47 per cent), HDFC (-10.90 per cent), HDFC Bank (-6.15 per cent) also appeared to have done badly in the year-to-date period.

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Sensex on a slide in 2010, but 46% stocks clock gain