Consumer discretionary and information technology sectors remained the top sectors, with each representing 15.2%, in the list of S&P 500 companies as of 31 January 2019, according to an analysis by GlobalData, a leading data and analytics company.
The two top sectors were followed by financials (13.8%), industrials (13.2%), health care (12.2%), consumer staples (6.8%), real estate (6.4%), energy (6%), utilities (5.4%), materials (5%), and communication services (0.8%) sectors. Over the corresponding period of previous year, there were aggregate seven new entrants in information technology sector and four drops from the consumer discretionary sector. The number of constituents in health care, consumer staples and materials remained unchanged.
Parth Vala, Company Profiles Analyst at GlobalData, comments: “The aggregate market cap of S&P 500 constituents declined by 5.7% to US$24.2 trillion as of 31 January 2019 from US$25.7 trillion in the corresponding period in 2018. Utilities was the only sector to witness a double-digit market cap growth. Constituents in the utilities sector, which gained over US$5bn market cap, include NextEra, Exelon, Duke Energy, Dominion Energy and FirstEnergy. Real estate and communication services sectors reported subdued growth.
Major losers were energy, financials, industrials, consumer staples and materials sectors, which fell by more than 10%. Across these sectors, the constituents that lost over US$40bn in market cap over the period are Exxon Mobil, Schlumberger, Wells Fargo, JPMorgan Chase, Bank of America Corp, Citigroup, DowDuPont, General Electric, Philip Morris, Walmart and Altria Group.
There were 24 new entrants led by information technology (9), followed by health care (4), financials (3), energy (2), industrials (2), and one each from communication services, consumer staples, materials, and utilities. There were four departures each from consumer discretionary, energy, and health care, followed by industrials (3), financials, information technology, and utilities two each, and consumer staples, materials, and real estate one each.