11 Stocks Defy Trend; Emerge As Losers Amidst Market Surge On Monday 18th May 2009!
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11 stocks defy trend; emerge as losers amidst market surge on monday 18th May 2009!

Research Analyst

On Monday, when the market made history with a surge of over 2,000 points, 11stocks including Cinemax India ended up as losers, defying the trend.

However, these do not include any blue chip scrip from the benchmark index Sensex, BSE-100 index, BSE- 500 and other sectoral indices. The losers include a midcap index stock Sunteck Realty and two scrips from the smallcap index --Cinemax India and K Sera Sera, according to data available on BSE. 

These stocks underperformed as trading in these shares is very less and they are not responsive to any drastic changes as investor confidence in such scrips is usually on the lower side

TANFAC Industries and Cinemax India lost over 14 per cent each today unfazed by the positive trend in the broad market. The losers also include--Sri Adhikari Brothers Television Network (down 1.33 per cent) and Pasari Spinning Mills, Morgan Ventures, Jindal Online. com all seeing a drop of over four per cent. 

The BSE 30-share index Sensex today gained over 2,000 points to 14,284.21 points with the surge prompting a trading halt at the bourse. However, no new all-time low were struck, while just four stocks hit their all-time high amid the surge.

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