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Stock market saw sectoral rotation between 1st, 2nd half of FY21
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SME Times News Bureau | 06 Apr, 2021
As the Indian equity market surged to new highs in
just-ended financial year 2020-21, a look at the market trend shows that
the robust performance of stocks took place on a rotational basis among
the sectors during the year.
A report by IDFC Mutual Fund showed
that sectoral rotation took place during the first and second halves of
the last financial year.
Despite the sectoral rotation, metals stocks stood out throughout the year, as they outperformed in all the four quarters.
"Apart from that, significant sector rotation was seen from the first half of FY21 to the second half," it said.
In
the first half, stable sectors like auto, IT and healthcare
outperformed, while in the second half, cyclical sectors like capital
goods, infrastructure, private and public sector banks outperformed.
The report indicated that the sectoral rotation may have just begun and may continue.
Further,
noting that over the last three years, small caps and cyclical sectors
have still underperformed, the report said, "outperformance in the
current year of cyclical sectors is part of the catchup of the
underperformance of the previous two years".
Despite the strong
performance in the current year, cyclical sectors like PSU banks,
telecom, auto, infra and metals continue to lag on a three-year basis,
said the IDFC Mutual Fund report.
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| Customs Exchange Rates |
| Currency |
Import |
Export |
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