Many stocks still down 70-80% below their peak despite huge market rally

The Sensex is yet to climb the peak of 21,000 and yet several stocks are trading significantly higher than previous highs. Some, on the other hand, are still down miserably

While the Sensex has still quite a bit to travel before it retakes its all-time high of 21,000, some stocks have already found their way to new peaks and even higher. The 30-share BSE Sensex is trying to retake its previous high at a breakneck speed. On October 1, it hit 17,195, an astounding 123% surge from its lowest point in October 2008 when it hit 7,697, though it is still 23% below its all-time high. Several stocks which had hit all-time highs at a time when the Sensex was soaring at 21,000 levels or even earlier, have since created new highs. Take Hero Honda, for instance. It had hit an all-time high in March 2006 when it touched Rs888. As on 5 October 2009, the stock was trading at Rs1,644, up a phenomenal 85% over its previous high and 193% above its low of Rs561 it hit in January 2008. Maruti Suzuki India is currently trading 35% above its October 2007 high of Rs1,188. Similarly, Nestle India and Sesa Goa, which had created highs in May 2008, are up 30% and 24% respectively as on 5 October 2009. Jindal Steel & Power Ltd, Punjab National Bank and Asian Paints have also beaten previous highs and reached new lifetime highs.
While these stocks have gone on to reach new glorious peaks, there are others which are trading at a considerable discount to their earlier peaks. Indiabulls Financial Services finds itself trading at 80% below its January 2008 high of Rs913. Suzlon Energy (-78%) and Unitech (-79%) are also at a significantly lower level than their January 2008 highs even as they jumped manifold from their depressed levels earlier this year. Stocks like MTNL, Aban Offshore and Glenmark Pharmaceuticals are down 73%, 69% and 68% respectively.
– Sanket Dhanorkar 

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    10 years ago

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    ErSS Hari

    1 decade ago

    public is becoming wise market makers who daily buy and sell lacs of shares reported as bulk deals are over.they made fool of public in bag films then ramanewsprint then sel mfg geminicom cranessoftware etc few firms are notorious for these type of shady deals seems they do in consultation with promoters..kindly publish a detailed story about modus operandy by these looters.sebi does not read deals squared up same day just to trap innocent investors.looks tv jounalists are on their payroll..JMP sec seem to be the specialist.

    Er SS Hari

    1 decade ago

    there is no retail participation as their pockets are empty since 2008.Traders are beaten by biggies due to algorithm trading who depend more on arbitrage and discount strategies rather than following technical charts.fundamentals evaluation based strategies are out of fashion.when every body turns to be a short term profiter long term investors will get disgusted and leave the stage for bonds and fixed income is passing through difficult times as now small investor has become clever and you cannot pass on the risks to them.major contribution to inject such cleverness with small investors is by your magazine and manipulators are angry with writings in your magazine.

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