Nifty Metal's 18% YTD rally adds Rs.1.6 lakh crore to investor wealth. Time to be euphoric or cautious?
New Delhi, May 25 -- Commodities, rather than equities, have been the focus of investors over the last year or so. The share price performance of top metal-producing companies is a testament to this trend. At a time when the Indian stock market is struggling, the Nifty Metal index has emerged as the best-performing sector among the 16 main indices on NSE.
Data from ACE Equity shows that only five of these 16 indices have eked out positive gains this year, including commodities, healthcare, pharma, energy and metal. And Nifty Metal is the leading performer following a 18% rally, adding Rs.1,60,503 crore to investor wealth. At the same time, the Nifty 50 index has slumped by over 8%.
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