6 sensex stocks trade above highs of Jan '08

AHMEDABAD: The sensex is still 28% lower than its highest peak of 2,1206 points that was seen on January 10, 2008. Though the sensex has about 6,000 points to to go before it touches its historic peak, there are 50 stocks in BSE 500 category that are trading at much higher than their value at the sensex peak.
Based on Friday���s closing, six of these stocks are in the 30-share sensex.The highest gainers among these stocks is Hero Honda which is 113% higher from the level on January 10, 2008. Of these 50 stocks that have outperformed the sensex, 12 are from healthcare, 10 from FMCG, 4 each from IT and auto.
���The BSE Auto Index is only 3% off its all-time high. The auto sector, specially the two wheeler segment, has done very well. They have seen least demand contractions and have enjoyed higher margins on account of lower raw material cost,��� said VK Sharma, head, Anagram Securities.
Regarding the rally in FMCG and healthcare stocks, analysts attribute shifting of funds from risky segments to defensive sectors. ���Considering the volatility and uncertainty, large funds and investors have shifted their funds to defensive stocks,��� said Siddharth Bhamre of Angel Broking, Mumbai. BSE���s FMCG Index is 1.82% higher than the level of January 10, 2008. Healthcare index has also outperformed sensex, down only 12% from that date.
Bhamre said, ���Rally in FMCG and healthcare segment is not likely to sustain as the risk taking capacity has increased. So, fund diversion may take place to infrastructure, capital goods and financial services.���