Realty sector stocks top-performing sector of FY24

New Delhi: In FY24, the realty sector sectoral index soared with a remarkable 132.5 per cent return, securing its position as the top-performing sector of the year, according to Motilal Oswal Asset Management Company.

The auto sector continued its upward trajectory and surged by 4.9 per cent in March, leading as the top performer, while the IT index saw a 7.5 per cent decline, marking it as the worst performer.

Nifty Next 50 has continued its streak as the top performer with a 2.8 per cent growth. The index has seen consecutive growth during the last 3 Months, 6 Months and 1 year of 13.65 per cent, 34.61 per cent & 60.39 per cent respectively.

Nifty Smallcap 250 and Nifty Microcap 250 indices have shown growth of 85.12 per cent and 63.07 per cent for the past year, respectively. However, these indices witnessed -4.24 per cent, and -6.22 per cent change respectively for March 2024, as per Motilal Oswal Asset Management Company.

The Financial Services, Consumer Discretionary and industrial sectors were the top three contributors to the overall returns of the Nifty 500, resulting in a positive impact of 1.1 per cent.

Crude oil prices surged for the third consecutive month, climbing by 6.3 per cent in March. The recent surge has been due to Ukraine’s drone attack on Russian refineries and extended production cuts by OPEC. In March 2024, the yellow metal reached a new all-time high and witnessed a rise of 8.1 per cent. In FY24, Bitcoin rose by 150.2 per cent and Ethereum by 100 per cent, showcasing notable growth in the cryptocurrency market, the research said.