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In this paper we examined the performance of Nifty50 (benchmark index of NSE) and 9 other sectoral indices in NSE namely Nifty Bank, Nifty Auto, Nifty Energy, Nifty Metal, Nifty Realty, Nifty FMCG, Nifty Financial Services, Nifty IT and Nifty Media. Data was collected for the time period from 1st April, 2014 to 31st March, 2024. Daily Closing Index values from NSE website were taken for all the indices. Various statistical tools like descriptive statistics, correlation analysis and percentages are used for analysing the data. The study found that over the period of 10 years, the total sectoral average return has performed better than benchmark index Nifty 50 return in 6 years. During Covid-19 pandemic, all indices were negative and Nifty FMCG was the least effected. Post Covid some sectoral indices showed more than normal return such as Nifty Metal and Nifty Realty. 10years simple average return showed that all the sectoral indices have performed better than Nifty 50 except Nifty FMCG and Nifty Media. The highest gainers were Nifty Realty and Nifty Metal. Descriptive statistics indicate that Nifty Realty was the most volatile and Nifty FMCG was the least volatile. Correlation analysis showed that indices like Nifty Bank, Nifty Financial services, Nifty Auto, Nifty Energy are having more positive correlation with Nifty 50 whereas Nifty Metal, Nifty Realty, Nifty IT, Nifty FMCG and Nifty Media have comparatively less positive correlation with Nifty 50. Therefore, investment managers, portfolio managers and individual investors should focus on the sectoral indices and understand their relationship with major benchmark index for finding the better investment opportunities. This will further help in diversification of their portfolio by minimizing the risk and maximizing the return.
"Performance of Sectoral Indices and their relationship with NIFTY 50", International Journal of Science & Engineering Development Research (www.ijrti.org), ISSN:2455-2631, Vol.9, Issue 7, page no.350 - 356, July-2024, Available :http://www.ijrti.org/papers/IJRTI2407040.pdf
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2456-3315 | IMPACT FACTOR: 8.14 Calculated By Google Scholar| ESTD YEAR: 2016
An International Scholarly Open Access Journal, Peer-Reviewed, Refereed Journal Impact Factor 8.14 Calculate by Google Scholar and Semantic Scholar | AI-Powered Research Tool, Multidisciplinary, Monthly, Multilanguage Journal Indexing in All Major Database & Metadata, Citation Generator