Mumbai: The domestic equity market witnessed sharply uneven sectoral performance over the past year, with key indices on the BSE showing a clear divide between high-growth financial segments and struggling themes such as realty, IT, and power. Data from the last 12 months highlights that diversified financials, auto, and private banking segments emerged as top performers, while realty and technology-related indices faced significant downward pressure.
The BSE Diversified Financials Revenue Growth index led the gains, posting an impressive 13.75% rise, reflecting sustained expansion in NBFCs, brokerages, and diversified financial firms driven by rising credit demand and strong earnings. Close behind was the BSE Auto index, which recorded 13.30% growth, supported by robust PV sales, easing supply-chain issues, and strong festive demand.
Private lenders continued to deliver stable performance, with the BSE Private Banks index increasing 11.29%, driven by healthy loan books, asset quality improvements, and strong quarterly results. Broader financial segments also performed strongly, with BSE Financial Services up 9.45% and BANKEX gaining 9.10%, signalling sustained investor confidence in BFSI.
On the downside, BSE Realty plunged 19.64%, marking it the worst performer. High borrowing costs, delayed project deliveries, and uneven demand dented investor sentiment in the sector. The BSE IT index dropped 17.52%, impacted by global macroeconomic uncertainty, cautious tech spending, and pressure on deal pipelines. Similarly, BSE Power fell 16.05%, while BSE Focused IT and BSE Utilities declined 15.29% and 14.44%, respectively.
Market analysts note that the divergence underscores sector-specific challenges and strengths, reflecting both global headwinds and domestic resilience. Investor focus, they say, is likely to remain tilted toward financials and autos amid continued economic momentum.
