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Oil and gas stocks fell 0.8% as the United States weighed releasing a record amount of up to 180 million barrels from its strategic petroleum reserve to control prices that have surged in the wake of a conflict between Russia and Ukraine.

A general trend is that most of the multibaggers in the list are from smallcap space, where there is more room for them to grow. Among better-known names that have surged multifold in the period are NDTV, DB Realty, Ugar Sugar Works, Triveni Glass and Gujarat Mineral Development Corporation.

Analysts say that over the last six months, the strategy of buying when markets have fallen has worked well for investors and the trend is likely to persist going forward if one considers certain key technical indicators.

Sector-wise, Nifty Metal was the best performer, rising 62 per cent during the year. The sector gained attention after a rally in commodity prices across the world improved the outlook of companies from the segment. Aluminium, copper and steel prices have made fresh multi-year records in the past 12 months.

The island nation of 22 million is facing its worst economic crisis in decades, with severely depleted foreign exchange reserves stalling the imports of essentials including fuel, leading to power cuts of up to 13 hours across most parts of the country.

On the technical charts, the RSI of the stock stood at 55.24.

The stock quoted a 52-week high price of Rs 3013.0 and low of Rs 1612.0.

GAIL plans to spend a total of Rs 1,083 crore, excluding taxes, on the repurchase of 5.7 crore shares, representing 2.5% of the company’s paid-up capital and free reserves as of March 31, 2021.

"If a company as big as Asian Paints or a Pidilite compounds profits at 15% but cash flows at 25%, it is the cash flow compounding which is driving the stock. Optically the PE multiple will look high because the P is not following E. The P is following free cash flow. "

The last two years witnessed a steep rally in Indian markets. From the panic bottom made in March 2020, the Nifty rallied from 8,598 to 17,222 by March 28, 2022.