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The BSE (Bombay Stock Exchange) benchmark index S&P BSE Sensex has rallied over 10,000 points to hit a record high of 28,542 points today from 17,996 on August 28, 2013. The National Stock Exchange (NSE) CNX Nifty too rallied 61% or 3,215 points to 8,500 from 5,285 during the period.
As many as 422 stocks out of 820 companies from the BSE-500, mid-cap and small-cap indices have rallied more than 100%, while 143 others surged between 62% and 100% in past fifteen months.
These 820 companies have accounted 98% of the total market capitalisation of all listed companies on the BSE.
A sustained capital inflow from foreign institutional investors (FIIs) and stable government at the centre have led the rally in equity market.
Since September 2013, FIIs made net inflow of $ 23.78 billion (Rs 144,811 crore), while, the domestic mutual funds investment net of Rs 7,277 crore, according to Securities and Exchange board of India data.
Positive efforts by the government to make India as a better investment destination is clearly visible in addition to retaining foreign money by allowing foreign direct investment (FDI) in emerging sectors.
India’s economy is expected to continue its growth story intact while cooling inflation and higher industrial production could unlock the pace of reforms and liquidity in markets. Recently announced macroeconomic data will surely increase investors trust on the Indian growth story for a longer term, said analyst at Equentis Capital Private Limited.
Slower inflation could support regulators (RBI) to increase liquidity in the market in short term and positive action by the regulators will be good for interest sensitive sectors/stocks, added analyst.
Of the 422 stocks, 205, including Yes Bank, HPCL, Bharat Forge, Ashok Leyland, Aurobindo Pharma, Ceat, Voltas, Apollo Tyres, Adani Enterprises and Bajaj Finance, have rallied over 200%.
In comparison, benchmark BSE Sensex and the BSE 500 index have gained 57% and 68%, respectively, compared to the closing levels on August 28 last year. However, the broader indices - the mid-cap and small-cap indices - have outperformed by surging 120% and 95%, respectively, during this period.
Among the sectoral indices, capital goods and banking index zoomed more than 100%, while auto, consumer durable and healthcare rallied between 72%-90%.
As many as 422 stocks out of 820 companies from the BSE-500, mid-cap and small-cap indices have rallied more than 100%, while 143 others surged between 62% and 100% in past fifteen months.
These 820 companies have accounted 98% of the total market capitalisation of all listed companies on the BSE.
A sustained capital inflow from foreign institutional investors (FIIs) and stable government at the centre have led the rally in equity market.
Since September 2013, FIIs made net inflow of $ 23.78 billion (Rs 144,811 crore), while, the domestic mutual funds investment net of Rs 7,277 crore, according to Securities and Exchange board of India data.
Positive efforts by the government to make India as a better investment destination is clearly visible in addition to retaining foreign money by allowing foreign direct investment (FDI) in emerging sectors.
India’s economy is expected to continue its growth story intact while cooling inflation and higher industrial production could unlock the pace of reforms and liquidity in markets. Recently announced macroeconomic data will surely increase investors trust on the Indian growth story for a longer term, said analyst at Equentis Capital Private Limited.
Slower inflation could support regulators (RBI) to increase liquidity in the market in short term and positive action by the regulators will be good for interest sensitive sectors/stocks, added analyst.
Of the 422 stocks, 205, including Yes Bank, HPCL, Bharat Forge, Ashok Leyland, Aurobindo Pharma, Ceat, Voltas, Apollo Tyres, Adani Enterprises and Bajaj Finance, have rallied over 200%.
In comparison, benchmark BSE Sensex and the BSE 500 index have gained 57% and 68%, respectively, compared to the closing levels on August 28 last year. However, the broader indices - the mid-cap and small-cap indices - have outperformed by surging 120% and 95%, respectively, during this period.
Among the sectoral indices, capital goods and banking index zoomed more than 100%, while auto, consumer durable and healthcare rallied between 72%-90%.
