The first time the S&P BSE-Sensex hit the 21000 mark was on January 08, 2008.
Recently, the Sensex crossed the 21000 mark and hit an all-time high on November 03, 2013. While the Sensex is almost where it was back in 2008, the performance of the S&P BSE sectoral indices has been highly skewed.
Today's chart of the days shows the biggest sectoral gainers and losers between the two above-mentioned dates. FMCG, healthcare, auto and information technology indices have been the biggest gainers.
In other words, defensive sectors as well as sectors that gain from rupee depreciation have reported strong performance. On the other hand, metal, capital goods, power and realty indices were the biggest losers.
It must be recalled that these were the very sectors that had led the stock market rally that culminated in the 2008 peak.
These sectors were adversely impacted in the aftermath of the 2008 global crisis and continue to languish far below their earlier highs. As such, it is clear that the current stock market rally is not broad-based.
Biggest Sectoral Gainers Since 2008
FMCG 171%
Healthcare 126 %
Auto 120 %
Information technology 99%
Biggest Sectoral Losers Since 2008.
Metal - 52 %
Capital goods -54 %
Power - 66 %
Realty -90%
Src: ACE Equity
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