Tech stocks out­paced Sensex in 2018

Mint Asia ST - - Inside -

THE TECH EDGE 2018 was the best year for the BSE IT in­dex since 2013.

Be­sides tech­nol­ogy stocks, BSE FMCG (up 10.6%), BSE Bankex (up 5.27%) were gain­ers among sec­toral in­dices in 2017.

Mean­while, BSE Re­alty and BSE Tele­com were the worst per­form­ers of 2018.

While BSE Re­alty lost 31% af­ter more than dou­bling in 2017, BSE Tele­com slipped 41% fol­low­ing a rise of 49% in the pre­vi­ous year.

Among BSE 500 stocks, Merck Ltd, NIIT Tech­nolo­gies Ltd, V-mart Re­tail Ltd and L&T Tech­nol­ogy Ser­vices Ltd were top gain­ers while PC Jew­eller Ltd, Man­pasand Bev­er­ages Ltd, Shankara Build­ing Prod­ucts Ltd, Jaiprakash As­so­ciates Ltd and Navkar Cor­po­ra­tion Ltd were ma­jor losers in 2018. The bench­mark Sensex and Nifty gained 5.91% and 3.15%, re­spec­tively, in 2018 af­ter a block­buster year for eq­ui­ties in 2017.

How­ever, both BSE mid-cap and BSE small-cap in­dices slipped to seven-year lows on con­cerns of steep val­u­a­tions and reg­u­la­tory mea­sures.

Among ma­jor mar­kets, the Shang­hai Stock Ex­change Com­pos­ite In­dex (down 25%) saw the steep­est de­cline in 2018.

The MSCI Emerg­ing Mar­kets and MSCI World in­dices slipped 17% and 11%, re­spec­tively, in the year gone by.

Amid stock mar­ket volatil­ity, for­eign in­sti­tu­tional in­vestors fled In­dia and eq­uity mar­kets saw a net out­flow of $4.38 bil­lion, the steep­est sell-off in a decade.

How­ever, do­mes­tic in­sti­tu­tional in­vestors in­vested a record ₹ 1.09 tril­lion in In­dian eq­ui­ties.

Crude prices rose 12.86% from Jan­uary till Oc­to­ber but fell 18.47% in the year.

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