Samvat 2077 saw one of the best returns for the equity market in last one decade. Indian equity market kept rising from last Diwali. Except for a brief period in February, May and June, there was almost a vertical rise in the Indian equity market. Frontline equity indices touched new life time highs with Nifty and Sensex surpassing 18000 and 60000 mark for the first time in history. It looks surprising that market run-up from pandemic lows of 7620 mark in March 2020 – amid lockdowns and other health challenges to current level.
It was not only the frontline indices; even the broader market saw a spectacular growth during Samvat 2077. While the Nifty 50 gained 38.9percent during Samvat 2077, it was small-cap index represented by Nifty 50 that made a killing and gained 81percent. Nifty Midcap index gained 64percent.
Equity Market Performance during Different Samvats
Even all sectoral indices also delivered positive returns, with top gainers being Metals, which more than doubled, even the Realty gained in triple digit while PSU Banks was up by 93percent. On the other hand, Pharma (+23percent), FMCG (+29percent) and Private Banks (+30percent) were underperformers as defensives took a breather. The theme of Samvat 2077 was high beta, cyclical and value.
This story is from the November 2021 edition of Indian Economy & Market.
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This story is from the November 2021 edition of Indian Economy & Market.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
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