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This article is more than 2 year old.

Out of 11 Nifty sectoral indices, 10 delivered bad returns in the last one month

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Out of 11 sectoral indices, 10 sectors plunged and only 1 remained in the green zone, in last one month. Nifty Media was the only sectoral index that saw positive gains this month while others succumbed to the poor stock market conditions.

Out of 11 Nifty sectoral indices, 10 delivered bad returns in the last one month
Out of 11 sectoral indices, 10 sectors delivered poor returns and only one gained in the last one month. Nifty Media was the only sectoral index that saw positive gains this month while others succumbed to the poor stock market conditions.
Among 10 declining sectors, three indices slipped in double-digit numbers -- Nifty Auto (13 percent), Nifty Metal (14 percent) and Nifty PSU Bank (11 percent). The remaining seven plunged between 1-6 percent. They include  Nifty Pharma ( -0.31 percent), Nifty FMCG ( -1.93 percent), Nifty IT (-3.36 percent), Nifty Realty (-4.54 percent), Nifty Financial Services ( -5.37 percent), Nifty Bank and Nifty Private Bank (-6 percent).
Meanwhile, Sensex slipped 4.33 percent and Nifty fell 5.08 percent in the last one month.
Speaking on the market slowdown, Sampath Reddy, CIO of Bajaj Allianz Life, said, "Weak macro-economic datapoints and high expectations from the budget of the new government have contributed to negative market sentiments in the short term. The move to increase surcharge on super-rich/UHNIs, and the proposed increase in the minimum free-float limit for listed companies contributed to the fall in the markets.”
According to Rajiv Singh, CEO of Karvy Stock Broking, Indian equities are passing through a tough phase, reflecting factors like weak economic growth and a weak corporate earnings growth environment. "In the near term, a rate cut by the Fed should be helpful for global equities, and boost sentiment for all emerging markets including India,” he opined.