 "Even though the equity market was opened up for foreign investors immediately after the early 1990s, the norms for foreign investment in debt were released in 1995 and in 1997, Rs 29 crore trickled in")
The historical weights of industries in major indices offer some clues about economic evolution. Twenty years ago (1999), the fast moving consumer goods (FMCG) sector had the largest representation by free-float market cap in the Nifty/ Sensex. Automobiles & Ancillaries was at number 2 with information technology, oil and gas, and pharma-healthcare holding higher weights than banking, financial services & insurance (BFSI) at number 5.
By 2009, BFSI was the largest sector. In 2019, BFSI is by far, the largest. IT is the second-largest, with FMCG third, and Auto & Ancillaries in fourth place. Healthcare, Power, Telecom have all shrunk
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