India delivered the third-highest return among key global markets in local currency terms, with returns of 9 per cent. In US dollar terms, India’s performance was more subdued with returns of 3 per cent compared with 12 per cent for the S&P 500, 8 per cent for Japan, and 5 per cent for Taiwan, a report from Motilal Oswal Financial Services observed. Indian markets, however, outperformed the MSCI EM (1 per cent) and beat other emerging markets such as China, Russia, and Brazil, which gave negative returns.
India has maintained its market capitalisation ranking at number 8 with an m-cap of $2.5 trillion after slipping to number 10 in 2015. China, which was at number 5 in 2010, is now at number 2 with an m-cap of $10.9 trillion. The world m-cap has nearly doubled in the past decade to $103 trillion.
Technology (13 per cent), consumer (12 per cent), and health care (12 per cent) were the top sectoral performers, while metals (-4 per cent), power (-4 per cent), and realty (-1 per cent) were the chief losers. Top individual gainers in the Nifty50 index include Bajaj Finance (54 per cent), Eicher Motors (35 per cent), and Bajaj Finserv (35 per cent), while top losers include ONCG (-8 per cent) and Coal India (-8 per cent).
Top gainers in BSE 200 include Astral Polytech (53 per cent) and Ajanta Pharma (50 per cent), while top losers include KSK Energy (-41 per cent) and Educomp Solutions (-39 per cent).
The PSU share in the Indian market was at a two decade low at 10 per cent. The poor showing by PSUs in 2020 is attributed to a decline in the share price of industry heavyweights such as State Bank of India, Oil and Natural Gas Corporation, NTPC, Indian Oil Corporation, and Coal India.