Three years of Narendra Modi govt: Investor wealth surges over Rs 50 lakh cr
At close of trade today, the market capitalisation (m-cap) of BSE-listed companies stood at Rs 1,25,63,952 crore.
New Delhi: Investor wealth has surged by over Rs 50 lakh crore since the Modi government was voted to power three years ago, with the Sensex surging to its lifetime high of 31,074.07 today.
The BSE benchmark index has risen by 6,311.33 points or 25.53 per cent since the BJP-led NDA government came to power on 26 May, 2014.
The overall stock market has grown from little over Rs 75 lakh crore to more than Rs 125 lakh crore now.
At close of trade today, the market capitalisation (m-cap) of BSE-listed companies stood at Rs 1,25,63,952 crore. Stocks of about 2,800 companies are traded on BSE.
The 30-share index today zoomed 278.18 points to close at 31,028.21.
"The wealth generation process during this period has been broad based, and not isolated to few, or few stocks. The rally has been rewarding to a large section of investors as well as other participants and intermediaries," said Anand James, Chief Market Strategist, Geojit Financial Services.
On the driving factors behind the rally, James said: "Political stability and a visible governance, that has consistently been successful in retaining hope. This, in turn, meant that domestic institutional investment rose and remained absorbing shocks during FII uncertainty."
Motilal Oswal Securities Ltd, Head Research, Gautam Duggad said: "Rally that we have seen in the last six months is led by positive news flow around GST, prediction of good monsoon, sharp pick up in FII flows and continued gush of domestic liquidity, especially post demonetisation."
Of the 30-Sensex pack, 20 stocks ended with gains led by Tata Steel, ITC and Power Grid.
Those who witnessed losses include Sun Pharma, Cipla, Lupin.
On BSE, 1,829 stocks advanced, while 836 declined and 183 remained unchanged.
TCS is the most valued Indian company with a m-cap of Rs 5,08,232.48 crore followed by RIL (Rs 4,34,326.63 crore), HDFC Bank (Rs 4,16,977.28 crore), ITC (Rs 3,74,928.98 crore) and HDFC (Rs 2,45,933.42 crore).
"Market gave a thumbs up when the NDA came to power. The last three years have seen stronger fiscal discipline, efforts to ensure tax governance and also implementation of the biggest tax reform which the market has definitely taken in the positive," said R Sreesankar, Co-Head - Equities, Institutional Equities at Prabhudas Lilladher.
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