Now almost two weeks over Govt of India announce big tax relief for corporates. Indian markets welcomed the big news with high enthusiasm with both Nifty and Sensex zooming more than 8%. But slowly the trend faded and market lost 50% of that gains in last two weeks period.
In first few days after tax cut Nifty zoomed 8.61% but slowly dropped 4.32% in 11 days and now stands at 4.15% (total gain after tax cut)
In large caps BPCL zoomed more than 35% mainly due the stake sale news by Govt of India. Other stocks gained during the period are Hindpetro, Siemens, Gicre, Ioc, Concor, naukari, dmart, bajfinance, bergepaint, bajajfinsv, eichermot, bjajahldg, muthootfin, nmdc, idbi etc
In midcaps Adani green, tatacomm, rnam, ashokley, escorts, whirlpool, indhotel, tiindia, isec, endurance, thermax, pvr, crediacc, exide etc extended with gains up to 12% and more
in small caps too many stocks zoomed up to 30% and here we considered only stocks with 1 crore+ daily value on a 2 months average period to filter out low value stocks.
MTNL, snowman, orissamine, manglmcem, sci, centuryply, v2retail, affle, indiamart, cgcl, dixon, kei, neogen, ace, satin, beml, iifl etc gained more than 14% durong the period.