BSE Capital Goods, BSE Realty: These sectors have delivered up to 5x more returns than Sensex in 2023

Global stock markets have been very volatile this year. Despite this, strong domestic macros helped stock markets recover smartly and equity investors have gained good returns. The benchmark BSE Sensex has risen 8 per cent so far in 2023, but the performance of sectoral indices has varied widely—while some have strongly outperformed the Sensex and surged up to 42 per cent, a few have declined sharply and even delivered negative return till September 28, 2023. Here are the details:

Data available from ACE equity shows that three sectoral indices have delivered more than 25 per cent YTD. The BSE Capital Goods index is the top-performing sectoral benchmark as it has gained 42 per cent rising from 33,342 on December 30, 2022, to 47,363 on September 28, 2023. It is followed by the BSE Realty index, which has surged 32 per cent to 4,565 on September 28 from 3,447 on December 30. In third place is the BSE Auto index, which has jumped 26 per cent over the period to 36,432.

The fourth biggest gainer sector is BSE Healthcare, which has risen 21 per cent to 27,879. The BSE Fast Moving Consumer Goods (FMCG) index is ranked fifth, having risen 16 per cent this year.

The biggest underperformer this year is Oil and gas. The BSE Oil & Gas index has declined 8 per cent thus far in 2023, from 20,409 at December end to 18,782 on September 28. The BSE Bankex and BSE Power have also underperformed the Sensex and generated 2 per cent and 5 per cent returns, respectively, in 2023.

Top performing large-cap stocks in 2023 include Tata Motors (up 58 per cent), Larsen & Toubro (44 per cent), NTPC (43 per cent), Bajaj Auto (38 per cent), and ITC (33 per cent). On the other hand, UPL, Reliance Industries, and HDFC Bank have declined 16 per cent, 8 per cent, and 6 per cent, respectively. 

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