The Sensex and Nifty 50 closed at record highs this week. But it's increasingly clear that this year, the preferred stocks and sectors have changed. This screener shows the Momentum score of various NSE and BSE indices, and tracks the share price changes over one year, three years and five years. Some of the biggest gainers of the past five years have been muted in recent months.
Major indices that show up in this screener include Nifty IT, Nifty Tata Group, S&P BSE Energy, Nifty Services Sector, S&P BSE Industrials, Nifty Financial Services, BSE Cap Goods and Nifty PSU Bank.
The Nifty IT index (which includes Tata Consultancy Services, Infosys, HCL Technologies) rose 171% over the past five years, the highest among major indices, even though it fell 12% over the past year. The index has a Trendlyne momentum score of 54.6, suggesting mid-range bullishness. Edelweiss believes that demand outlook in the IT sector has still not fully incorporated global macro-concerns. So the index may fall further.
The S&P BSE Energy index (which includes heavyweights like Reliance Industries, Adani Total Gas and Oil and Natural Gas Corp) rose 111% over the past five years, while it was 17% over the past year. The index has a mid-range Trendlyne momentum score of 55. As Brent crude prices touched $123.2 per barrel in March, the index fell 2.4% since the start of the year. In recent weeks, Brent crude prices dipped to $87.4 per barrel, helping the index rise 3.7% in the past week in hopes of demand recovery and lower pressure on margins for Indian companies in this space.
The Nifty Tata index (which includes Tata company stocks like Titan, Tata Motors and Tata Steel) rose 132% over the past five years and 1% over the past year. It has a Trendlyne momentum score of 52.8.
The Nifty PSU Bank index (which includes State Bank of India, Bank of Baroda and Canara Bank) rose 2.8% over the past five years, while it is up 55.8% over the past year. The index has a Trendlyne Momentum Score of 69.6. According to ICICI Securities, financiers are optimistic on growth momentum as some corporate segments like retail and SME are showing sustained growth.
