In Charts: How Indian Equity Markets Fared In 2019
Indian stocks had a roller-coaster ride in 2019 as uncertainties stemmed from the general election, a tax surcharge on the super rich and its partial rollback, a global trade war, a slowing economy and much more.
The Nifty 50 returned over 7 percent since the beginning of the year till May 23—when Narendra Modi-led Bhartiya Janata Party returned to power with a bigger mandate. The gains continued further, until July 5, when Finance Minister Nirmala Sitharaman presented the Union Budget 2019-20.
The 50-stock gauge began to decline as increased tax on the super rich, including foreign portfolio investors and buyback tax spooked investors. That led to the index erasing 2019 gains. The finance minister, on Aug. 23, however, decided to roll back the enhanced surcharge on overseas investors.
The markets continued to fluctuate until Sept. 20, until Sitharaman surprised by slashing corporate tax rates. Since then, the Nifty surged 13.3 percent and hit a record high of 12,293.90 on Dec. 20.
During the year, the 50-stock index returned nearly 13 percent. The broader markets, however, continued to remain under pressure. The NSE Nifty Midcap 100 and the NSE Nifty Smallcap 100 declined for the second consecutive year, falling 4.9 percent and 10.7 percent, respectively.
In the broader markets space, six stocks returned more than 100 percent this year.
Among the sectoral gauges compiled by National Stock Exchange, the NSE Nifty Realty Index was the top sectoral performer in 2019, followed by the Nifty Bank Index and Nifty IT Index. On the flip side, the NSE Nifty Media Index and the NSE Nifty Metal Index were the worst sectoral performers during the period.
Fundraising through initial public offerings was the lowest in five years. The overall amount raised through IPOs in 2019 stood at Rs 12,366 crore, the lowest since 2014, when companies had raised funds worth Rs 1,201 crore.