Monster F&O series...Dis-May for bears

For the May F&O series, the NSE Nifty and the BSE Sensex index both rallied over 25% each.

Bears were in dismay in the month of May as the NSE Nifty posted its biggest percentage gains in the F&O series ever. While the verdict of the election was the best that Indian parliamentary democracy has got in a long, long time, the reaction of the stock market was unimaginable.

On May 18, 2009, the BSE Sensex soared by 2,110 points or 17.24 % to 14,284 while the NSE Nifty zoomed 651 points or 17.35% to 4,323 both freezing at upper circuit.

For the May F&O series, the NSE Nifty and the BSE Sensex index both rallied over 25% each.

Among the BSE Sectoral indices, the BSE Realty index was the top gainer, the index shot up by over 67% followed by BSE Metal index up 53%. Among the other major gainers were BSE Small-Cap index up 48%, BSE Capital Goods index up 44%, BSE Mid-Cap index up 35%.

Among the banks, Kotak Bank rallied over 80%, ICICI Bank rose over 53% and SBI surged by 43%.

The top gainers in the metals sector were, Tata Steel up 62%, JSW Steel up 60%, Hindalco up 52% and SAIL 50%.

Among the Realty stocks, Indiabulls Real Estate up 75%, Unitech up 73% and DLF up 67%.

However, not all the stocks had a good time in May. Heavyweights like, Tata Communications dropped 10%, ITC lost 3%, Cipla declined 2% and HUL fell 1%.