Auto, consumer durables & realty sectors lead stock market gains in May
T
he Nifty Next 50 continued its three-month winning streak and gained 6.42 per cent in May to clock an overall gain of 12.88 per cent in the three-month period, according to a report by Motilal Oswal Asset Management Company.
The Nifty Midcap 150 was a close second clocking a monthly gain of 5.69 per cent and a three-month gain of 10.62 per cent.
The benchmark Nifty 50 was the slowest moving among the indexes gaining 2.60 per cent in May. All sectors ended the month in green with Auto, Consumer Durables and Realty each rising by more than 7 per cent. The momentum factor continued its momentum iamp; ended the month at 5.9 per cent up, followed closely by Quality at 5.4 per cent. Low Volatility iamp; Value also rose by 2.5 per cent iamp; 0.4 per cent respectively, the report said.
The Nifty 500 closed 3.6 per cent up in May followed by mid and small-caps rising 5.7 per cent and 5.5 per cent, respectively. All sectors ended the month in green with Auto, Consumer Durables and Realty each rising by more than 7 per cent, the report said.
The rise in Nifty 500 was led by Consumer Discretionary and Financial Services that contributed almost half of the returns in Nifty 500.
The Nasdaq 100 continued its rally rising by 7.6 per cent in May and by 30 per cent on a YTD basis despite bank runs, tech layoffs and looming recession fears. The Siamp;P 500, which is a more broad-based index, rose by 0.2 per cent while the Dow fell 3.5 per cent in the month of May. IT contributed the most to the gains in May.
Developed markets had a slippery slope falling by 4.6 per cent which was led by a recession in Germany that impacted most of the countries in Europe. Emerging markets also fell by 0.4 per cent led by South Africa iamp; China that fell the most.
✔️ Auto, consumer durables & realty sectors lead stock market gains in May
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