82% stocks delivered positive returns in 2023; some even rallied up to 1,300%

As much as 82 per cent of stocks on the National Stock Exchange (NSE) have delivered positive returns to investors till December 19 this year. As a result, the benchmark NSE Nifty has climbed 18 per cent YTD, while the Nifty Smallcap 250 and Nifty Midcap 100 indices jumped 46 per cent and 42 per cent, respectively.

Kotak Securities, which sees Nifty at 21,834 levels by December 2024, believes that the ongoing rise in Indian markets is exceptional considering the adverse factors like the Russia-Ukraine war, Israel-Hamas war, global inflation, rising crude prices, peak US 10-year yield and consumption slowdown.

Coming to the top gainers of the year, shares of Jai Balaji Industries gained the most 1,291 per cent to 761.05 on December 19 against Rs 54.70 on December 30 last year. It was followed by S&S Power Switchgear (up 616 per cent), Geekay Wires (up 544 per cent)), Aurionpro Solutions (up 501 per cent), Inox Wind Energy (up 398 per cent), Servotech Power Systems (up 384 per cent), Thomas Scott (India) (up 371 per cent), Titagarh Railsystems (up 369 per cent), JITF Infralogistics (up 363 per cent), Ashapura Minechem (up 351 per cent) and Eimco Elecon (India) (up 395 per cent.)

Going ahead, brokerage HDFC Securities, which sees limited upside potential in the Nifty50 index in the next 12 months, prefers sectors like large-cap banks, industrial and real estate, power, autos, pharma, OMCs, gas and capital markets for the next year.

Data further highlighted that the other 267 stocks in the list also rallied more than 100 per cent so far in 2023. Some of the players such BSE, Jindal Saw, HBL Power Systems, Zen Technologies, Unitech, GE T&D India, Apollo Micro Systems, Nucleus Software Exports, Newgen Software Technologies, Asian Energy Services, Premier Explosives, Peninsula Land, Essar Shipping, Inox Wind, Electrotherm (India), REC, Patel Engineering, Kaynes Technology India, Anand Rathi Wealth, Power Finance Corporation, SPML Infra, Jupiter Wagons, Indo Tech Transformers and Suzlon Energy also gained somewhere between 250 per cent and 350 per cent YTD.

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