Best Performing Sectors | Equity Markets | September 2021



  • Overall, a good month for domestic equities. Nifty50 up 2.9%, Mid and small caps outperformed delivered around 6%
  • Best performing sectors: Real Estate Developers – 33% Absolute! Followed by Consumer durables and Power delivering around 10%
  • Worse performing sectors: Metals and Pharma
  • Amongst the defensive sectors: FMCG, Pharma and IT underperformed, consumer durables outperformed
  • Auto, PSUs: After 3 months of underperformance, both outperformed. PSU are amongst the best performing sector this month
  • Financials: continues to underperform Nifty50 for the 5th month in a row





  • Equity:
    • Overall it has been a weak month for global equities. Many markets delivered negative returns
    • US: The worst performing market this month after FED stated that tapering would be announced in the November meeting and would continue till July 2022. Nasdaq (-5.7%) underperformed. Smallcaps (-2.9%) outperformed largecaps (-4.7%)
    • Japan: Amongst the best performing market this month (+5.5%). The quick exit of unpopular Prime Minister Suga has been followed by foreign buying interest in Japanese equities
    • Russia: The net energy exporter (+4.7%) outperformed as power prices rose to highs due to supply constraints
    • Brazil: Weakest equity market (-6.6%) – Major negatives include political turmoil, above target inflation led rate hikes and disappointing Q2 growth numbers
    • India: Continued to outperform (+2.9%) as IPOs return and vaccination pick up continued (on track to deliver at least 1 dose to 70% of its population by November)
    • Hong Kong & Korea: Ended sharply lower as market jitters from China spilled out
  • Currencies:
    • Broadly, both Developed and Emerging market currencies fell versus the US Dollar as FED proceeds towards tapering – a clear risk off signal

Leave a Reply