MARKET WRAP FY18: Sensex gains 12%; PSU banks biggest losers

Markets started losing momentum soon after Budget 2018-19 on selling by foreign institutional investors; domestic investors also weighed on Indian markets

The year 2017-18 saw the bulls losing their steam, with the S&P BSE Sensex rising 12 per cent, compared with a 16 per cent rally in FY17. On the other hand, the Nifty50 index gained 11% in FY18, as against 18% in the previous corresponding period.
 
Mid-and small-caps, however, outperformed their larger peers as money – both local and foreign – poured in. While the BSE Mid-cap index gained 14%, the Small-cap index rallied 20% during FY18.
 
Markets started losing momentum soon after the Budget on selling by FIIs as well as domestic investors weighed on Indian markets.