Nifty up 8.7% in dollar-terms since Jan 1

The HDFC twins, Kotak Mahindra Bank and Reliance Industries helped the Nifty inch higher in the past one week, more than offsetting the loss due to softer IT stocks, including TCS. The Nifty inched higher by a per cent to gain 8.7 per cent in dollar terms since the start of 2019. The 1.4 per cent gain logged by the rupee against the US dollar also helped. The greenback closed at 69.2 against the Indian unit on Friday.

Among the top 15 FII-heavy stocks, HDFC Bank, HDFC, Kotak Mahindra Bank, Reliance Industries and Bajaj Finance were the biggest gainers with 5.8 per cent, 3 per cent, 4.6 per cent, 3 per cent and 2.2 per cent gains in dollar terms, respectively. Against this, IndusInd Bank, TCS, HUL, Infosys and Maruti Suzuki were the biggest losers during the week correcting 7.2 per cent, 4.1 per cent, 1.6 per cent, 0.6 per cent and 0.5 per cent, respectively. Other than these four, all other stocks in the Nifty gave positive returns.


The Nifty is now the fifteenth best performing index among the 20 most-followed global indices. However, over a period of one year, the Nifty remains the second-best performing index after the Dow Jones.