Indian equity benchmarks remained extremely volatile this month on account of ongoing earnings season and 2019 Lok Sabha elections keeping investors extra cautious.

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The NSE Nifty50 continued to consolidate in the range of 11,550-11,856 and the BSE Sensex fluctuated in the range of 38,585-39,489.

Since April 23, the Sensex has risen only 0.8 percent, while the Nifty gained 1.12 percent. The major contributors behind the Nifty50 gain were HDFC Bank, Reliance Industries Ltd, HDFC and Kotak Mahindra Bank. These four stocks contributed 168 points to the Nifty50 index. While remaining 46 stocks dragged the NSE index by 18 points lower.

In case of other Nifty indices, the Nifty Midcap performed poorly by declining 1.5 percent along with the Nifty Junior, which slipped 1 percent. Since January 1, only the Nifty50 has been able to rise 8 percent, while the Nifty Midcap and the Nifty Junior fell 2.3 percent and 1.8 percent respectively. This indicates that the Nifty midcap stocks did not do well this time.

Meanwhile, on Bombay Stock Exchange, stocks in the A Group performed better than the B Group. 14 stocks in the A Group touched its 52-week high, while 11 stock touched its 52-week low. When compared to the B Group, only 5 stocks could touch its 52-week high, while 51 stocks reached its 52-week low. Therefore, the BSE Sensex index saw only 43 stocks touching its 52-week which is a very small number.

First Published:May 3, 2019 7:10 PM IST