Outperformers During The FPIs Selloff

Amid a sharp market downturn during which the Nifty 500 plunged 10.02 per cent, a select group of stocks defied the trend and moved in the opposite direction of the indices.

FPIs have been on a selling spree since the start of October. Market participants, especially retail investors, felt the pinch of this selloff. Benchmark indices Nifty 50 & sensex have corrected by over 10 per cent that has been the enormity of the selloff. In the month of October FPIs have been net sellers of worth Rs 1,14,445.89 crore in the cash market — the highest ever in a single month. Meanwhile, DIIs were net buyers, purchasing Rs 1,07,254.68 crore. The FII selloff continued in November, albeit at a slower pace, with net sales of Rs 39,668.98 crore as of 21 November 2024. DIIs during this period remained net buyers, with purchases of Rs 31,636.77 crore. 

But there are stocks that have stood their ground during this tough period. In the Nifty 500 basket there are around 80 stocks that have delivered positive returns compared to the negative returns of the benchmark indices. Nifty 500 from October to 21 November has lost 10.02 per cent meanwhile the benchmark indices Nifty 50 & sensex have lost 9.53 per cent and 8.49 per cent respectively.

Amid a sharp market downturn during which the Nifty 500 plunged 10.02 per cent, and the Nifty 50 and Sensex fell by 9.53 per cent and 8.49 per cent, respectively, a select group of stocks defied the trend and moved in the opposite direction of the indices.

The top five gainers from the Nifty500 index were as follow: 

Amber Enterprises, surging by 35.81 per cent, outperformed the Nifty 500 by a whopping 45.34 per cent, showcasing resilience amidst broader market weakness. Incorporated in 1956, Amber Enterprises India Ltd is a prominent solution provider for the air conditioner OEM/ODM industry in India.

BSE Limited, which facilitates a market for trading in equities, currencies, debt instruments, derivatives, and mutual funds, delivered impressive returns of 27.56 per cent.

One 97 Communications Ltd, the parent of Paytm, India’s leading digital ecosystem for consumers and merchants, rose 27.04 per cent.

Adding to the outperformers, Syrma SGS Technology advanced by 25.69 per cent. Syrma is a technology-focused engineering and design company engaged in turnkey electronics manufacturing services (EMS), specializing in precision manufacturing for diverse end-use industries.

Mastek, which provides services such as application development, application maintenance and support, ERP and cloud migration, as well as business intelligence and analytics, grew 24.37 per cent. Each of these stocks maintained strong momentum against the market’s downward trend.

This resilience in these stocks during a challenging market period can be attributed to their strong financial performance and positive business outlook.

Disclaimer: The article is for informational purposes only and not investment advice.