NEW DELHI Investors’ wealth zoomed Rs 8.83 lakh crore during 2018-19 fiscal driven by a rally in the broader market where the BSE benchmark jumped over 17 per cent.
The 30-share Sensex advanced 5,704.23 points or 17.30 per cent during 2018-19. It rose 127.19 points to finish at 38,672.91 on Friday, the last trading day of the financial year.
During this time, the index touched an all-time high of 38,989.65 on August 29, 2018.
Led by the rally in stocks, the market capitalisation (m-cap) of BSE-listed companies rose by Rs 8,83,714.01 crore to Rs 1,51,08,711.01 crore.
Investors’ wealth had surged Rs 20.70 lakh crore during 2017-18 fiscal.
“Since the dawn of 2019, Nifty has managed to overcome multiple hurdles (Indo-Pak tension, concerns of slowdown in global economy and rising crude oil prices).
“In fact, till February 2019, Indian indices were at the bottom of the pack when it came to rally across global markets,” said Pritesh Mehta, Senior Vice President – Research, YES Securities (India) Limited.
March saw Nifty breaking out from a three-month consolidation period between 10,600-11,100, Mehta added.
“Investors are looking ahead to get cues from general election during which earning growth in Q4 will be inevitable to support the rally,” said Vinod Nair, Head of Research, Geojit Financial Services.