Commodity stocks gave best returns in '09 – Business Standard- Topic: News
These sectors increased shareholders’ wealth by over Rs 345,000 crore after a massive erosion of Rs 469,000 crore in 2008. Among sectoral indices, automobiles, fast moving consumer goods, pharmaceuticals and technology recovered fully and were trading at all-time highs, while others, including Sensex and BSE-500 index, were 25-50 per cent below their December 2007 levels. The telecom companies shaved off Rs 22,784 crore shareholders’ wealth in 2009 on the top of a massive value erosion of Rs 213,600 crore in 2008. Though the Sensex appreciated by over 80 per cent, listed brokerages underperformed on subdued volumes in the secondary market as companies raised Rs 65,000 crore in 2009 through primary sources. read more
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