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| Nine out of 13 sectoral indices outperform Sensex |
| Press Trust of India / Mumbai Aug 23, 2009, 14:05 IST |
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With investors cashing in on favourable valuations provided by the stock market in the last three months, as many as nine sectoral indices led by the IT index outperformed the benchmark Sensex during the period.
According to an analysis of the returns provided by 13 sectoral indices in the three-month period ended August 21, nine indices gave higher returns compared to the Sensex.
The broader market index, Sensex gave returns of nearly 10 per cent in the reviewed period to close at 15,240.83 points at the end of the Friday's trade on the BSE.
The IT index led the gains with a healthy return of 29 per cent during the period between May 21 and August 21, 2009. The IT index closed at 3,954.18 points.
Marketmen said domestic and foreign investors have been lapping up stocks which have been available at fair valuation in the period and except the oil and gas index all made gains.
The FIIs have put in a whopping Rs 35,103.9 crore since May this year, while so far this year their net investments have been Rs 35,460 crore.
While domestic mutual funds gave about Rs 3,600 crore so far this year.
Other key indices which outperformed the Sensex with a significant margin include, Auto (20.47 per cent), Metal (20.18 per cent) and FMCG (18 per cent).
Meanwhile, the three sectoral indices which underperformed the key index were, Bankex (with returns of 7.22 per cent), Power (6.58 per cent) and PSU (7.17 per cent).
The only index which gave negative return was the Oil&Gas index which lost nearly two per cent during the period under review.
Other, indices which gave good returns includes Realty (14.23 per cent), Teck (15.83 per cent), CG (13.51 per cent), HC (12.42 per cent), CD (16.83 per cent).
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