INSUBCONTINENT EXCLUSIVE:
bond yield is anything to go by.
The trailing 12-month Nifty earnings yield has turned higher than the government bond yield for the first
time since 2009 by 10 basis points, said Spark Capital
have been followed by outsized returns, the brokerage said.
This is because the low growth-low bond yield environment creates the needed
Autos, banks, consumer durables, capital goods and metals have consistently outperformed during the recovery phases of the market whereas
the telecom, utilities, FMCG and oil and gas sectors have been the laggards, the brokerage said.
Currently, the index is down over 30% from
record highs hit in January as the coronavirus outbreak has cast uncertainty over the economic growth outlook, with confirmed cases
returns on the Nifty over the onemonth, three-month, sixmonth, 12-month and two-year horizons have been positive to outsized, said Spark
