Market Recap: Sector, Country-wise Performance
A quick review of how various sectors in the Indian markets have performed since 2004, on different time-scales:
Note how the CNX Nifty Junior index has started out-performing of late. Also, the Oil & Gas sector has had negative returns over the past month, inspite of the major indices hitting all-time highs. If I were to place a bet on which sector’s about to out-perform, it would be Information Technology (IT).
Also of interest is the performance of Indian indices relative to other (emerging) Asian markets:
India & Indonesia are at the very top. Data courtesy of ICICI.
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March 14th, 2006 at 11:39 pm
i tend to agree with you. infact infosys has started to show some big intra-day swings.
March 15th, 2006 at 4:22 am
It would have been interesting to see how Malaysia compared with the rest of this group. The Morgan Stanley Closed-End Malaysia Fund (MF) has essentially been flat over the last year.
Infosys (ADR) has significantly underperformed Wipro over the last three months http://finance.yahoo.com/q/bc?t=3m&s=WIT&l=on&z=m&q=l&c=INFY and I am wondering if Wipro could face the same pressure in the coming months. Wipro’s downgrade by Goldman Sachs today also does not help.
March 15th, 2006 at 9:39 am
Interestingly, Wipro ADR (WIT) dropped only ~2.5% despite the upgrade.
On a related note, I recommend looking at the performance of the small/mid cap IT stocks that are part of the S&P CNX IT index. They’ve been on a roll recently.
http://www.nseindia.com/marketinfo/equities/cnxitwatch.jsp
March 15th, 2006 at 5:52 pm
if one looks at the fii holding in the small/mid-cap it companies, it seems to be creeping up. only a matter of time before traders catch on. a mid-cap rally would be a very big confiramtion of the fact that the the current equity bull run is sustainable. btw, if you want to trade options right now, i would suggest going for bull spreads)or a ratio bull spread). iahve made some:-) money thru these. indx options are liquid enough to allow these trades. but do these trades when there is only 7-8 trading sessions left before expiry.