NSE's IT index gives better returns than its other indices
Advertisement
Advertisement
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.
Advertisement
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.
Advertisement
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
Advertisement
- Poonch Terrorist Attack: One Indian Air Force soldier dies, five injured; Patrolling intensifies across J&K
- The Role of AI in Journalism
- 10 incredible Indian destinations for family summer holidays in 2024
- 7 scenic Indian villages perfect for May escapes
- Paneer snacks you can prepare in 30 minutes