A third of BSE 500 stocks back to Manmohan era

The BSE benchmark Sensex seems to be under-reporting the extent of pain gripping the broader market. Nearly a third of the BSE 500 companies (176 stocks) have lost all the gains they made since the Narendra Modi-led government took charge at the Centre on May 26 last year. And, more than 10 per cent (40 of 498 companies) have lost at least half their market value during the past 15 months   Stock Market Trading Tips

The biggest losers have been infrastructure companies, metal makers, power generators, sugar companies, real estate developers and oil & gas companies, among others. The losses came at a time when, incidentally, infra and capital expenditure-related companies were supposed to be the biggest beneficiaries of the Modi government's infra spending push.

Benchmark indices, however, are still in the green when compared with their levels on May 26 last year. The Sensex has risen 6.8 per cent during the period, while the National Stock Exchange's Nifty is sitting on gains of 8.7 per cent. The rise in the more broad-based BSE 500 is even higher, at 13.2 per cent, thanks to a stronger rally in mid- and small-cap stocks than the large-cap ones   Himanshu Tiwari Astrologer Blog

For example, Bhushan Steel is now down 87.5 per cent from its closing price on May 26 last year. Infra and cement major Jaypee Associates' share price is now at an all-time low, with the firm losing 87 per cent of its value during the past 15 months. It is now trading at Rs 9.73 a share, compared with a closing price of Rs 75.5 on May 26, 2014.