NSE's IT index gives better returns than its other indices
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The
The 10-share IT index of the NSE has given a return of 9.01 per cent during July-September period, an analysis of indices showed.
The IT index is followed by CNX Media and CNX Pharma, which have given a return of 6.48 per cent and 5.87 per cent respectively,
Barring these three indices, all others -- auto, bank, PSU bank, energy, finance, FMCG, metal, pharma and realty -- have given negative returns.
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CNX Metal index (27.52 per cent) was the biggest loser during July-September period of the current fiscal.
According to market analysts, depreciation in the rupee against the US currency is a positive move for export-focussed sectors like the IT space.
Like exporters, IT companies earn majority of their revenue in dollars and weaker rupee means exporters get more rupee per US dollar, they added.
The 50-share
The drop in Nifty has been much higher than midcap and small-cap which fell by 0.19 per cent and and 0.35 per cent respectively.
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All the indicies will be rebranded to include 'Nifty' in their names as against the name 'CNX' used currently from November 9.
NSE's flagship 'CNX Nifty' index would be rebranded as 'Nifty 50' index.
Image credit: Indiatimes
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