NARENDRA "MOLI"

STOCK MARKETS REACH PEAK

INVESTOR WEALTH SURGE BY Rs.50 LAKH CRORES IN 3 YEARS

Stocks defied gravity for the second straight session today, propelling the Sensex past the 31,000- mark for the first time ever on the third anniversary of the Modi government. The broader Nifty too breached the 9,600-level, also in a first, before settling at a record high of 9,595.10. Sustained buying, both by domestic and foreign investors, propped up the market at elevated levels amid optimism for more reforms by the government. 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 May 26, 2014. In the process Investor wealth has surged by over Rs. 50 lakh crore since the Modi government was voted to power. 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. On friday sensex zoomed 278.18 points to close at 31,028.21. On weekly basis in 5 trading sessions The Sensex rose by 563.29 points (1.84 per cent), while the Nifty finished the week 167.20 points (1.77 per cent) higher.

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"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. 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."

- Anand James, Chief Market Strategist, Geojit Financial Services.

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