Despite the pandemic, the stocks on BSE and NSE have yielded positive results in this financial year.
Despite the pandemic, the stocks on BSE and NSE have yielded positive results in this financial year.
Almost all of the Initial Public Offerings (IPOs) and rights issues in this year have been over-subscribed several times, says the Securities and Exchange Board of India (SEBI) in its November released bulletin. Despite the impact of pandemic this year, the total funds raised were Rs 1.54 lakh crore till September 2020 as compared to Rs 1.58 lakh crore raised during the corresponding period last year.
“The recovery is broad-based outside the indices as well out of the stocks that have traded on NSE and BSE during this financial year, more than 93 per cent of the stocks on NSE and more than 75 per cent of the stocks on BSE have yielded positive returns in this financial year as on Sep 30, 2020,” notes the circular.
As per the Sebi, more than Rs 22,000 crore equity issuances are in the pipeline. When it comes to market capitalisation, the Indian bourses like BSE and NSE rose 1.7 per cent and 1.9 per cent, respectively, at the end of October 2020.
The BSE sectoral indices saw a positive trend in October. For instance, S&P BSE Bankex saw a growth of 12.5 per cent, followed by S&P BSE TECH (4.9 per cent), and S&P BSE Power (4.6 per cent). On the contrary the S&P BSE Healthcare index saw a fall of 2.7 per cent in October. However, during the same month the gross turnover in the equity cash segment on BSE and NSE saw a dip of 17.4 per cent and 10.2 per cent, respectively.