In Charts: How Markets Fared In FY18

The implementation of the Goods and Services Tax and Moody’s first upgrade in over a decade that helped the markets rally, to bringing back long-term capital gains tax that spooked investors, India has witnessed an eventful 12 months starting April 2017.

India’s leading equity benchmark, the Nifty 50 Index, touched fresh record levels in financial year 2017-18. However, after Jan. 29, the day when it closed at a record high, the 50-stock index has corrected nearly 10 percent.

Nifty Versus The World

The Nifty 50 was among those across the world that posted double digit gains in FY18, outperforming several European indices.

Large-Cap Stocks

Bajaj Finance Ltd. was the best performing stock on the Nifty 50 Index this financial year. The non-bank lender, added to the index only in September, rose nearly 51 percent.

Most drugmakers fared the worst among index stocks on account of regulatory concerns. Lupin Ltd. was the worst performer after declining 49 percent in the fiscal.

Mid-Cap Stocks

Graphite electrode maker Graphite India Ltd. was the best performing mid-cap stock in FY18, followed by Jubilant FoodWorks Ltd., Avenue Supermarts Ltd. and Indiabulls Real Estate Ltd.

On the flipside, Suzlon Energy Ltd. was the worst performing stock on the Nifty Midcap Index, followed by Reliance Communications Ltd., Power Finance Corporation Ltd., Adani Power Ltd., and Union Bank of India.

Small-Cap Stocks

Among the small-cap stocks, Indiabulls Ventures Ltd. was the top performer, soaring over 300 percent. Reliance Naval and Engineering Ltd. was the worst performer, with a 59 percent fall.

Broader Market Indices

The smallcap index and the broader market index, the NSE Nifty 500, outperformed the benchmark Nifty 50, while the midcap index under performed marginally.

Sectoral Performance

Seven of nine sectoral gauges compiled by the National Stock Exchange advanced, led by NSE Nifty Realty Index that gained 36.8 percent. The NSE Nifty Pharma Index was the top sectoral loser, down 19.7 percent.

The best performing sector - NSE Nifty Realty Index - extended gains for the second consecutive financial year.

The worst performing index – NSE Nifty Pharma Index - declined for the third consecutive year and fell the most in nine years.

The Cash Flow Picture

Domestic investors pumped in a little more than Rs 1 lakh crore, nearly five times more than their overseas counterparts, driving the benchmark to scale new record highs, before it corrected nearly 10 percent from its last record close on Jan. 29.

Volatility Surges The Most In Four Years

The NSE Volatility Index or the India VIX surged the most since the financial year-ended March 2014.

IPO Rush

The current financial year was a record year for IPOs with over Rs 81,000 crore raised, the highest in three decades.

10-Year Yield Spikes After Four Years

At the end of FY18, the 10-year yield snapped three years of decline and rose by 71.8 basis points, the most since financial year-ended March 2014.

Rupee Compared To Asian Peers

The Indian rupee was among the worst performing currencies in Asia, after marginally depreciating against the U.S. dollar.