These 10 Nifty 500 stocks have defied the market crash
What's the story
The Indian stock market has been battling a severe downturn since October, driven by foreign capital outflows, weak earnings, and an economic slowdown.
Over 450 stocks in the Nifty 500 index have gone into negative territory.
However, amid this tough environment, 10 stocks in the Nifty 500 index have shown resilience by posting gains of over 10% during the period.
Top performer
Redington leads the pack with a 21% surge
Redington has been the top performer among these resilient stocks, with its shares surging by 21% from October to February.
This is followed by Amber Enterprises India and Narayana Hrudayalaya, whose share prices have risen by nearly 17% and 15%, respectively.
Other companies that have managed to withstand market pressures include Laurus Labs (14%), SRF (12%), Global Health (12%), Bajaj Finance (11%), and Firstsource Solutions (11%).
Bajaj Holdings and Avanti Feeds also rose slightly over 10%.
Market influencers
Factors contributing to the market downturn
The sharp selloff in the Indian market over the last five months has been led by heavy foreign capital outflows, weak earnings, signs of an economic slowdown, and elevated US Dollar and bond yields.
FPIs have sold off Indian equities worth nearly ₹3.24 lakh crore since October in the cash segment.
Concerns over a potential major trade war due to US President Donald Trump's tariff policies have also weighed on market sentiment.
Market downturn
Nifty 50 records 5th consecutive monthly loss
The Nifty 50 posted its fifth straight monthly loss in February, its longest losing streak since 1996.
The Nifty 500 index has fallen 18% and the benchmark Nifty 50 over 14% during this period.
Over 400 stocks in the Nifty 500 index have tanked over 10% since October.
The shares of Whirlpool India, Adani Green, Sterling and Wilson, Kirloskar Oil, Honasa Consumer, Chennai Petroleum Corporation and Tanla Platforms have crashed over half during this time.
Market outlook
Economic recovery may attract fresh investments
Despite the ongoing market downturn, signs of an economic recovery are on the horizon.
The Indian economy grew by 6.2% in the December quarter (Q3), up from 5.6% in Q2.
Experts say with valuation comfort, earnings recovery, and economic growth gaining momentum, FIIs will also start buying fresh in the Indian stock market.
This could stabilize the market after March quarter earnings show signs of improvement.