Nifty 50 ends 2021 almost 24% higher, but these sectors outperformed the benchmark this year

Nifty Metal index was top performer among NSE sectoral indices in 2021, skyrocketing 70% in the calendar year to end at 5,521.75 points on Friday.

Brokerage firm ICICI Direct sees Nifty’s fair value pegged at 20,000 for the upcoming year. (File photo: Reuters)

As Indian equity markets drew curtains on the last day of the year, some sectoral indices such as the Nifty Metal, Nifty Realty, and Nifty IT showed more mettle than their counterparts this year. Nifty Metal index was the top performer among NSE sectoral indices in 2021, skyrocketing 70% in the calendar year to end at 5,521.75 points on Friday. Information Technology and Realty indices followed suit and jumped 58.25% and 53.02% respectively. Meanwhile the benchmark NSE Nifty 50 index gained 23.79% this year.

Source: NSE, Google Finance data

Among Nifty Metal constituents, Vedanta and Hindalco Industries doubled investor’s money, zooming 112% and 100%, respectively while Tata Steel stock price rallied 73%. SAIL share price gained 44% in 2021. On the Nifty Realty index, the big wigs such as DLF, rose 64% in 2021 while Brigade Enterprises soared 96%.

On one hand, the Nifty Banks index, which comprises the 12 biggest banking stocks of the country, grew 13.6% on a year-to-date basis and closed at 35,481.7 points on the last day of the year. On the other hand, the Nifty PSU Bank index saw a spike of 13.6% on a year-to-date basis and closed at 35,481.7 points on Friday.

Sectors such as Pharma, FMCG sectors also saw growth this year with Nifty Pharma and Nifty FMCG indices rising 9.39% and 9.27% respectively. Nifty Infra jumped 34.72% and Nifty Auto saw a 17.95% rise this year.

The benchmark Nifty 50 index recorded its highest yearly returns since 2017. Brokerage firm ICICI Direct sees Nifty’s fair value pegged at 20,000 for the upcoming year. “With the worst of asset quality concerns behind us amid resolution of big ticket stressed assets and economic optimism in the post-Covid era, Nifty earnings CAGR is impressively placed at 25.7% in FY21E-23E,” the brokerage said in a note.

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