The Indian markets hit a record high today after five years and ten months.The stock index today surged to an all-time high just after the opening bell, smashing its earlier record set in January 2008.
The Sensex set a new all-time high record of 21,266.97 today while Nifty had hit 6,326 at its day’s high, nearly 30 points away from its record high of 6,357.10.
Foreign funds pushed up the Sensex to all-time high as they continued buying pharmaceutical, information technology and auto sector stocks. A reasonably good earning season and the abundant global liquidity are the reason for the new highs for the Indian shares.
According to CNBC-TV18, here’s a list of the best performing stocks since 2008:
Sun Pharma -+ 456%
TCS : + 315%
ITC :+ 187%
Hero MotoCorp : + 200%
HUL: + 160%
And here’s a list of the worst performing stocks since 2008:
BHEL: -72%
Tata Steel: -65%
RIL: -42%
L&T: -35%
Bharti Airtel: -27%
The market seems to be hitting new highs supported by sectors that got a boost from the weak rupee. IT and pharma sectors are expert oriented and a weak rupee has boosted their earnings in July-September.