2008 was a shocker of a year for all equity markets across the globe. The total world stock market cap halved from USD 60 trillion to USD 30 trillion. Auto, Pharma and Consumer stocks outperformed in 2008. Realty stocks were the worst performing stocks in 2008.
List of world indices perfromance in the year 2008.
List of world indices perfromance in the year 2008.
Index
YTD
Shanghai Composite
-65%
Vietnam
-66%
Sensex
-52%
Jakarta Composite
-51%
Hang Seng
-48%
Taiwan
-46%
Nikkei
-42%
Kospi
-41%
Brazil
-41%
CAC
-42%
FTSE 100
-32%
Dow Jones
-35%
S&P 500
-39%
Indian markets: It was the worst yearly performance by Indian markets on record. The Sensex, Nifty ended down nearly 50% while BSE Dollex was down 60%. CNX Midcap was down 60%, BSE small-cap was down 73% and the Nifty Junior was down 64%.
2008 Winners: HUL was the biggets winner with 18% gains, Hero Honda up 16%, GSK Pharma was up 12%, Godrej Cons up 6% and 48 out of 50 Nifty-50 stocks posted negative returns. The best asset class of 2008 was Gold, which is up 30%.
Sector Specific Action: The Worst performing sectors were Realty, Metals and Capital Goods. While the best performing one was the FMCG Index. BSE Realty Index was down 80%. Unitech was down a whopping 90% while DLF was down 72%.
BSE Metal Index was down 74%. Tata Steel was down 77% while Sterlite & Hindalco were down 74% each. SAIL was down 72% as well.
BSE Capital Goods Index was down 65%. ABB was down 70%. Big boys like L&T & BHEL were down 63% & 47% respectively.
BSE Oil & Gas Index was down 55%; Reliance Inds was down 57%. ONGC was down 46% while Mukesh Ambani's Reliance Petroleum was down 60%. BSE Healthcare Index was down 33%; Sun Pharma was down 12% while Cipla was down 13%.
BSE FMCG Index was down 14%. HUL was up 18% while ITC was down 18%. Index losers include Suzlon down 84%, Tata Motors down 78% & Reliance Infra down 73%.
Midcap and Small-cap space: In the Midcap space nearly 50% of NSE listed stocks lost 70% or more in the year 2008. Realty Losers in the Midcap space were Orbit Corp, Jai Corp down 92% each while IVR Prime, Parsvnath and Sobha all were down 90%. Adlabs, Aban, Indiabulls Finance, India Infoline were down 87%.
In the Small-cap, Asian Elec & Prime Securities were down 95% while Pyramid Saimira was down 92%.
Fund Flows: The biggest outflows was seen by FIIs on record. FIIs net outflow at USD 13 billion, which is nearly 20% of inflows seen ever in India. DIIs net inflow was at Rs 72,500 crore, out of which MFs had put in Rs 13,000 crore.
Commodities: CRB Index ends down nearly 40%. It ends down 55% from Year’s high. In Base Metals, Nickel & Lead were down 63% each while Copper and Zinc were down 55% each. Aluminium & Tin were down 37% each.
Currencies: The Japanese Yen gained 24% against the US dollar. Euro depreciated 4.5% against the US dollar. South Korean Won depreciated 30% against the dollar. Indian Rupee depreciated 19% against the US dollar. Thai Baht depreciated 15% against the US dollar. Malaysian ringgit depreciated 5% against the US dollar. New Zealand dollar depreciated 25% against the US dollar. UK pound sterling depreciated 25% against the US dollar.
IPO's in 2008: Only 4 IPOs out of 43 have managed to post positive returns. The best performing IPOs were Vishal Info, Anus Lab, Alkali Metals & Gokul Refoils. However, the worst performing IPOs were Niraj Cement, Porwal Auto, First Winner, Chemcel Biotech, Tulsi.
Mutual Funds Performance: Equity Diversified Funds were down 55%. Over 50% of equity diversified funds were down over 55% YTD. ICICI Pru Dynamic, HDFC 200 are the best performing funds amid top 20 funds via Asset Under Management (AUM). DSPBR Tiger & Tata Infra are the worst performing funds amid top 20 funds via AUM.
Top 3 Worst performing funds are all JM Funds. JM Emerging Leaders down 80%; JM Small and Midcap down 78% & JM Basic down 75%.
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