11 stocks defy trend; emerge as losers amidst market surge on monday 18th May 2009!
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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