Up to 35% returns in 2023! These sectoral indices have substantially outperformed the BSE Sensex this year

This year global stock markets have been very volatile. Despite this volatility, strong domestic macros helped D-Street recover smartly and equity investors gain good returns. The equity benchmark BSE Sensex has surged 7 per cent in 2023 so far, but the performance of different sectoral indices has varied widely—while some have strongly outperformed the Sensex and surged up to 35 per cent, a few have declined sharply and delivered negative returns till August 30. Here are the details:

Data available from ACE equity shows that there are as many as four sectoral indices that have given more than 20 per cent (YTD). The BSE Capital Goods index is the top-performing sectoral benchmark as it has gained 35 per cent to 45,016.4 on August 30, 2023, from 33,342.2 on December 30, 2022. It is followed by the BSE Realty index, which has surged 29 per cent to 4438.1 on August 30 from 3446.8 December 30. At the third spot is the BSE Auto index, it has jumped 23 per cent to close at 35578.7 level from 28,923.

The fourth biggest gainer sector is BSE Healthcare as the index fetches a 21 per cent return to 27871.1 from 23033.6 on year-end 2022. And BSE Fast Moving Consumer Goods (FMCG) index is ranked fifth in this list. The FMCG sector benchmark has given a 16 per cent return to investors this year. It was trading at 18597.5 on August 30, 2023.

The biggest underperformer sector this year is Oil and gas.  In 2023, the BSE Oil & Gas index declined 8.4 per cent to 18693.3 from 20409.1. While BSE Power index is also trading in red this year as it has slipped 0.5 per cent to 4374.

Also read: Nifty, Sensex end in red; Maruti, Cipla top gainers; Adani Enterprises, Adani Ports top losers; Nazara Tech, Aeroflex Industries, other stocks that buzzed in trade on August 31, 2023

Top performing large-cap stocks in 2023 include Tata Motors up (56 per cent), ITC up (34 per cent), Dr. Reddy's Laboratories (33 per cent), NTPC (32 per cent), and Larsen & Toubro (30 per cent). On the other hand, UPL, State Bank of India, and Reliance Industries have declined 16 per cent, 7 per cent, and 5 per cent respectively.

Also read: Hot stocks on August 31, 2023: Suzlon Energy, Jio Financial, Dilip Buildcon, BHEL and more

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