NDTV ProfitMarketsIn Charts: How Indian Markets Rebounded From Their March Lows
ADVERTISEMENT

In Charts: How Indian Markets Rebounded From Their March Lows

Here’s how the markets have fared over the last six months.

24 Sep 2020, 07:32 PM IST
NDTV Profit
NDTV Profit
A trader points to a bar graph on the floor of the New York Stock Exchange in New York. (Photographer: Edouard H.R. Gluck/Bloomberg News.)
A trader points to a bar graph on the floor of the New York Stock Exchange in New York. (Photographer: Edouard H.R. Gluck/Bloomberg News.)

Six months ago, there were 433 Covid-19 cases in India. That day the benchmark NSE Nifty 50 index tumbled 1,100 points, or 13%, in a day. It further fell the following day to a low of 7,511.

The number of confirmed Covid-19 infections in India has crossed 56 lakh, including more than 90,000 deaths. Yet, since March 24, Nifty 50 has recovered 46%, nearly rebounding to pre-pandemic levels.

Five charts that track the recovery even though Covid-19 cases are showing no signs of relenting:

Benchmarks Rebound

Nifty 50 has recovered 3,620 points from its March 24 low . 48 of the 50 constituents gained during the period.

Four stocks doubled in last six months, three gained 90-100%, while five rose 80-90%. Coal India Ltd. and Indian Oil Corp. were the only two stocks in the index that fell. Indian Oil declined 6%, while the largest global miner fell 5.3%