Bharat Salokhe, Director, Akshay Profit & Wealth Pvt. Ltd.
Monthly Expiry on Thursday 28th March was like the bahardar festival of Rangpanchami. All major and sectoral indices were swept in bullish green except for Nifty Media. This boom is special because Thursday was the last day of the financial year 2023-24 and therefore the Monthly Expiry was also the last expiry of the financial year. (Stock Market)
Despite the tense geopolitical environment due to Russia-Ukraine and Israel-Hamas conflicts, the stock market gave good returns to investors in the current financial year due to Strong Macro – Economic Indicators. Check the returns of major indices for the financial year 2023-24.
Nifty 50 – 29%
Sensex – 24.85%
Bank Nifty – 16.05%
Nifty Midcap – 63.94%
Nifty Smallcap – 75.49%
The unprecedented boom seen in midcap and small cap stocks was reflected in mutual funds as well. Nispon India Growth Fund HDFC Midcap Opportunities Fund, Motilal Oswal Midcap Fund, Mahindra Manulife Midcap Fund, ITI Midcap Fund have returned more than 60%, while small cap funds from companies such as Bandhan and Quant have returned more than 70%.
All sectoral indices performed well in the last financial year. Only Nifty Media gave single digit returns. The performance of various sectoral indices (Sectoral Indices) in the previous year is as follows
Nifty IT – 25.97%
Nifty Energy – 74.29%
Nifty Pharma – 58.08%
Nifty Infra – 67.34%
Nifty Realty – 132.52%
Nifty FMCG – 19.77%
Nifty Auto -74.94 %
Nifty Metal – 90.20 %
Nifty Media – 8.90%
If we look at the above table, the boom in Realty Sectoral after several years immediately fills our eyes. Along with Realty, Auto Energy, Infra, Metal and Pharma sectors also performed very well. Companies like DLF, Prestige, Godrej Properties, Sobha have given double-triple returns in the last one year. But, at the same time, their valuation has become very expensive.
The shares of Tata Motors, Bajaj Auto, TVS Motors in the auto sector, Tata Power in the energy sector, Indian Oil, Coal India, Adani Parts Hind Petro in the infra sector gave huge returns to the investors. Pharma companies like Lupine, Aurobinda Pharma, Glenmark, Zydes like also more than doubled their returns. Metals companies Nalfo, Hind Copper, Adani Enterprises and Welspun Corp also remained top performers.
Check the year-ago and today prices of the top five companies with the highest returns. You will see how sweet the fruit of patience is in the stock market. (Stock Market)
