2017 was undoubtedly the year of equities. The benchmark Sensex shot up 28%, while the broader market did even better. Small investors, who took to mutual funds in a big way in 2017, were amply rewarded.
At the same time, other asset classes remained in the doldrums. Real estate was struck, first by demonetisation, then by the establishment of the Real Estate Regulation Authority and the implementation of the Benami Property Act and finally by the rollout of the GST.