Nifty Next 50 outperforms NSE’s benchmark, jumps over 47 pc in a year: Report

Mumbai: Nifty Next 50 outperformed the National Stock Exchange’s benchmark in the past one year amid economic uncertainty and mixed economic signals, according to a report on Monday.

As per the Motilal Oswal Asset Management Company’s Global Market snapshot report, Nifty Next 50 showed a growth of 1.17 per cent in November and 47.29 per cent growth in the past one year, while Nifty 50 declined by 0.31 per cent in November but showed a growth of 19.86 per cent in past one year.

“Nifty Midcap 150 showed 0.14 per cent growth in November and 30.97 per cent growth in the past one year. Nifty Smallcap 250 saw a decline of 0.20 per cent in November and shown growth of 33.69 per cent growth in the past one year,” the report stated.

“Among sectoral indices, IT emerged as the top performer with a 6.8 per cent gain, followed by defence with a 5.7 per cent rise, defence index has also shown growth of 83.92 per cent in the year which is highest, compared to other sectorial indices. The energy, metal, and FMCG sectors saw declines of 4.6 per cent, 3.1 per cent, and 2.1 per cent, respectively in November.”

In the last month, Nifty 500 remained nearly flat, slipping just 0.01 per cent.

Energy, utilities and commodities weighed on returns, while IT, industrials, and financial services provided positive contributions.

“S&P 500 posted its biggest monthly gain of 5.7 per cent in November, while the Nasdaq 100 surged 5.2 per cent, driven by Trump’s victory fueling a market rally. Emerging market indices extended their negative performance, with both China and Taiwan declining by 4.5 per cent,” the report said.

Crude oil prices fell 1.8 per cent in November, as demand remained subdued in both Asian and North American markets. Gold prices fell 3 per cent in November, the lowest in 14 months, while silver saw a sharper decline of 8.6 per cent. Bitcoin posted a monthly gain of 33.1 per cent while Ethereum rose by 34.7 per cent.

IANS