Tech stocks outpaced Sensex in 2018
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.