Energy sector stocks outperform all others in September

New Delhi, Oct 10 (IANS) All sectors including auto, banks, consumer durables FMCG, healthcare witnessed a positive performance in September. The energy sector outperformed all others, surging by 6 per cent during the month

According to Motilal Oswal Asset Management Company (MOAMC)’s Global Market Snapshot report, Nifty mid-cap 150 outperformed all major indexes in September by rising 3.04 per cent.

It has risen by 12.98 per cent, 33.37 per cent, 29.92 per cent in the last three months, six months and one year respectively. Similarly, Nifty small-cap 250 has also performed well during the same period rising by 15.99 per cent, 39.17 per cent, 32.96 per cent in the last three months, six months and one year, respectively.

Indian stock markets exhibited a positive trend, highlighted by a 2 per cent increase in the Nifty 50 index.

In the US market, the S&P 500 and NASDAQ 100 both experienced a 5 per cent decline in September 2023, with the Information Technology (IT) sector once again being the primary contributor to the S&P 500's fall.

Globally, both emerging and developed markets saw negative performance, with declines of 4 per cent and 3 per cent, respectively. South Korea witnessed the most significant drop at 5 per cent, while Germany led the decline in developed markets with a 6 per cent decrease.

Crude oil prices surged by 9 per cent during September, raising concerns about potential impacts on inflation, fiscal balances, and current account deficits.

On the commodities front, precious metals faced declines, with gold and silver prices falling by 4 per cent and 5 per cent, respectively.

In contrast, cryptocurrencies like Bitcoin and Ethereum registered gains of 4 per cent and 2 per cent, respectively.