Modi's 100-day magic: Equity investor wealth surges Rs 11,381 cr daily

Stock market investors got richer by Rs 11,381 crore per day during the first 100 days of Narendra Modi becoming prime minister.

On the 100th day of Narendra Modi’s prime ministership, the benchmark Sensex scaled the 27,000 mark and Nifty 8,100 mark – a pleasant gift for the investors.

In fact, since Modi took over, the Sensex and Nifty have risen 9.3 percent and 9.8 percent, respectively. The BSE’s market capitalisation surged by Rs 11.38 lakh crore or a whopping Rs 11,381 crore per day to Rs 94.44 lakh crore.

The broader indices like the BSE 500, BSE Midcap and BSE Smallcap outperformed the benchmark indices by giving higher returns during the period. While the BSE 500 recorded a 10.2 percent gain, the BSE Midcap and BSE Smallcap rose 12.2 percent and 17.6 percent, respectively.

The BSE Healthcare Index with 36 percent return during 100 days led the sectoral indices. It was followed by BSE Consumer durables (up 18.8 percent), BSE Auto (18.6 percent), BSE IT (18.4 percent) and BSE TECk (16.6 percent).

While FMCG Index, Bankex and Capital Goods Index gave modest returns, power, metals and realty were losers.

Foreign institutional investors (FIIs) pumped in Rs 32,524 crore (or Rs 325.24 crore daily) between May 26 (the day Modi took oath) and September 2 to buy Indian equities. Domestic mutual funds also invested Rs 16,544 crore or Rs 165.44 crore per day during the period.

During these 100 days, every 2 stocks out of 3, delivered positive returns for investors. Out of 2,850 actively traded stocks, 1,950 turned gainers, giving returns as high as 533 percent.

Moreover, out of these 1,950 stocks, 165 gave more than 100 percent returns to the investors.

Among 50 Nifty stocks, barring 14, all delivered positive returns during the 100 period, ranging between 2 percent and 46 percent.

Sun Pharmaceuticals Industries emerged as the major gainer with 46 percent returns. Its share price rose from Rs 591.90 per share on May 26 to Rs 864.40 on September 2. Its peers Cipla and Lupin ranked second and third in the gainers’ list. While former gave 45.7 percent return, latter saw 44.2 percent rise in its share price.

Tech Mahindra stood fourth with 33.6 percent rise and FMCG major Hindustan Unilever fifth with 30.7 percent gain.

The losers were led by Jindal Steel & Power (down 19.7 percent). The stock was pummelled after recent SC judgement on declaring all coal blocks allocations since 1993 ilegal. It is followed by United Spirits which fell by 12.9 percent, Tata Power (down 12.1 percent), NTPC (10 percent) and DLF (9.9 percent).

In terms of market capitalisation, TCS with Rs 76,066 crore rise, emerged as the major gainer among Nifty 50 pack. Its market capitalisation has gone up from Rs 4.22 lakh crore on May 26 to Rs 4.98 lakh crore on September 2.

Sun Pharmaceuticals stood at the second spot with Rs 56,440 crore gain in market capitalisation while Hindustan Unilever is ranked third with Rs 37,263 crore rise in market cap.