Best & Worst Performing Sectors - S&P BSE Index - Chart Of The Day 6 January 2018 - Equitymaster

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Best & Worst Performing Sectors - S&P BSE Index
Jan 6, 2018

2017 was a surprising year to say the least. Notebandi was supposed to be a major hurdle for Indian stocks. Realty segment was to have the biggest adverse impact post Notebandi. While Real estate prices pan India remained stagnant, stocks were anything but.

The S&P BSE Realty Index grew by a staggering 98% in CY 2017 alone, making it one of the best performing sectors on the Index. The government's focus on affordable housing and RERA (Real Estate Regulation Act) gave investors hope of a revival in the sector.

Post Notebandi came GST. This was also supposed to hamper day to day operations of companies until the whole GST process was streamlined. Consumer durable stocks remained immune to the disruption and logged in a 99% growth. A healthy monsoon also helped boost investor sentiment in consumer durable stocks.

It is also important to note that the dual effects of Notebandi and GST did show on earnings. Most of the companies reported below par earnings in the past 2-3 quarters. The market though discounted these in expectation of a much better 2018.

For the premium valuations that stocks in these sectors command right now, it is important that earnings catch up with valuations in the coming few quarters.

Data Source: BSE, Ace Equity

This Chart Of The Day was published in The 5 Minute WrapUp - The ONLY Thing You Need to Know About Bitcoin

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