Sectors of Correction

Nifty's last swing closing high was made on November 5th 2010. Since then Nifty has fallen just under 9% as of 26th November 2010. But the damage done to Market breadth has been immense. I have been posting a lot on breadth, lets take a look at the broader market (stocks trading in F&O segment) with a sectoral point of view.

The above table and chart shows how the different sectors have faired. No award for guessing the weakest sector! The other bigger sectors like Power, Infrastructure and Materials have also not faired well. Most striking to see was Financials losing 16% since the peak on Nifty! Looks like the sector that rallied the most has also not been spared in selling.

Auto, Healthcare, FMCG and IT has resisted the selling. We need to keep an eye in case these start getting sold.