Markets see off a year of glorious contrasts

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There was only one initial public offering (IPO) in a year when the Sensex hit its all-time high and foreign inflows towards India towered over those for other emerging markets (amongst those that declare foreign investment figures). Equity fund-raising fell by a third from the previous year and the amount of capital raised through the IPO route was at its lowest since the early 2000s, even as the Sensex scaled Mt 22k. The contrast was also seen in the performance of the Sensex stocks themselves. Rs 100 invested in the best-performing one would be worth Rs 154.51 by the end of the year, and in the worst-performing one it would be worth Rs 83.62.