While the Sensex has returned 7%, and the broader Nifty a tepid 4%, the Nifty IT Index has given stellar returns of about 34%, emerging as the best sectoral performer of the year. We take a look at sectoral indices performance since last Diwali.
Samvat 2074 had indeed been an excellent year for IT stocks, with shares of Tech Mahindra, Infosys, TCS returning up to 52% since last Diwali. Notably, while the Sensex has returned 7%, and the broader Nifty a tepid 4%, the Nifty IT Index has given stellar returns of about 34%, emerging as the best sectoral performer of the year. Nifty FMCG Index, with returns of about 11.2% comes in at the second place. Nifty Finance Index has returned about 8% since last Diwali, coming in at the third spot.
The Nifty Private Bank Index has given about 7.5% returns and ranks the fourth best sectoral Index. The Nifty Bank Index returns at 6% were the next best among Nifty indices in Samvat 2074. The PSU Bank Index too managed to give positive returns in the year, closing 0.45% up in the period.
Notably, a lot of sectors have poor returns, with the reality and media stocks among the worst performers. Nifty Realty Index has corrected by more than 21.5%, emerging as the biggest sectoral loser among the major indices. Nifty Media Index, with returns of negative 16.8%, is the next biggest loser. Nifty Metals (down 10.90%), Nifty Infra (down 10.68%) and Nifty Pharma (down 1.63%) were among the other poor performers among the major Nifty indices.
Stock wise, shares of Tech Mahindra have emerged as the overall Nifty winner returning a whopping 52% in the period since last Diwali. IT behemoth TCS comes second with returns of 49.5%. Infosys shares, with returns of 44.31% have emerged as the third best Nifty performer in the period. Titan (42.8%), ICICI Bank (37.7%), JSW Steel (37.66%), Axis Bank (30.7%) HUL (29.8%) Bajaj Finance (27.5%) have also managed to be among the top 10 Nifty performers in Samvat 2074. With returns of 21.67%, billionaire Mukesh Ambani-led Reliance Industries has been ranked at the 10th spot among the Nifty stocks in the period.