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Mar.19

9:07 AM ET

Thursday, 19 Mar 2009

Biggest Gainers from S&P Rally

Posted By:Robert Hum

Topics:Stock Market

The markets surged on Wednesday following the Fed's announcement that it would buy up to $300 billion in longer-term debt. At the session high shortly after the Fed's announcement, the S&P 500 [.SPX Loading... () ] climbed back above the 800 level for the first time since February 17. The index, however, still hasn't closed above 800 since February 13. Nevertheless, by crossing the 800 mark during the day yesterday, the S&P had officially moved up over 20% from its March 6 low of 666.79.

Since the index hit its those lows just 9 trading sessions ago, only 5 of the S&P's 500 stocks (Pall [PLL Loading... () ], McKesson [MCK Loading... () ], General Mills [GIS Loading... () ], Brown Forman [BFB Loading... () ], and Molson Coors Brewing [TAP Loading... () ]) have posted declines. On the other hand, over 10% of the index has posted strong gains of 50% or more during this period. Not surprisingly, 9 of the top 10 S&P 500 components during this time are financials.

Here are the 12 members of the index that have at least doubled value since the S&P's recent low earlier this month:

                                     Since March 6
American International Group   +318%
Citigroup                              +208%
Hartford Financial Services      +166%
Bank of America                    +156%
Genworth Financial                +146%
Prudential Financial               +134%
Sun Microsystems                  +129%
MBIA                                  +127%
MetLife                                +125%
Wells Fargo                          +115%
E*Trade Financial                 +113%
General Motors                     +108%
Office Depot                        +102%

Here's how some of the other major indices have performed from their individual lows set just earlier this month:

                       Since March Lows
Dow Transports         +22.6%
Russell 2000              +21.7%
S&P 400 Midcap         +20.9%
Nasdaq Composite      +17.6%
Dow Industrials          +15.7%
Dow Utilities              +12.8%

Other notable sectors since their own March lows:

                        Since March Lows
Banks                      +69.7%
Insurance                +46.7%
Housing                   +37.3%
REITs                      +34.0%
Airlines                    +24.2%
Industrials                +21.6%
Materials                  +20.1%
Energy                     +16.1%

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