The stock market reached the sky in 9 years, moving towards 65 thousand points.
Narendra Modi is about to complete 9 years in the power of the country. During this, the Modi government drew a new line in every sector. Create new records and raise new flags of success. If we talk about the stock market, then in these 9 years the market danced to every tune of the Modi government and helped in boosting the country’s economy. For this reason, the investment of foreign investors in the country’s equity market increased. There was a continuous increase in the number of local retail investors.
If you look at the figures, both the major indices of the market have seen a rise of more than 150 percent and the market cap of Sensex has seen an increase of 232 percent. Now the eyes of the market are on 65 thousand marks. In view of the bad economic condition of the world especially America and Europe, it is estimated to grow up to 5 percent in the next one year. If this happens, Sensex can be successful in crossing 65 thousand points. Let us also tell you how much the stock market has grown in the last 9 years and what the experts are saying about reaching 65 thousand marks.
Sensex ran 155 percent in 9 years
In the last 9 years, there has been a tremendous increase in the major index of the stock market, Sensex. When PM Modi was sworn in for the first time on 30 May 2014, the Sensex was at 24,217.34 points. After that, there has been a continuous increase in it. Which has reached 61,773.78 points today on 24 May 2023. This means that the Sensex has seen a gain of 155 per cent during this period. Such speed has hardly been seen in the era of any PM. The reason for this is even more when in the era of COVID, when there was a big fall in the stocks of the whole world, its initial effect was also seen in the markets of India, but it could not last for long. After that there has been a continuous increase in it. Sensex was the highest returning exchange in the year 2020 as compared to the rest of the world’s markets.
Nifty is also not less
On the other hand, Nifty, the main index of the National Stock Exchange, was no less than the Sensex in terms of returns. In the last 9 years, about 153 percent return has been seen in Nifty. Talking about the figures, on May 30, 2014, the Nifty was at 7,229.95 points, which has reached 18,285.40 points today on May 24, 2023. This means that during this period there has been an increase of 153 percent in Nifty. Nifty has also been the highest return exchange in the COVID year compared to the rest of the world’s exchanges and there have been very few years in which Nifty has given negative returns.
Investors topped in earning
With the increase in the market, the market investors have benefited a lot. The market cap of BSE is linked to the gains and losses of investors. The market cap of BSE was Rs 84,07,833.93 crore on 30 May, which reached Rs 2,79,48,583.58 crore today on 24 May 2023. During this, an increase of Rs 1,95,40,749.65 crore has been seen in the market cap of BSE. This means that it has increased by 232 percent during this period. Which is estimated to reach Rs 3,50,00,000 crore in a year.
Eyes on 65 thousand marks of the market
On the other hand, if market experts are to be believed, it can reach up to 65 thousand in the next one year. According to IIFL Vice President Anuj Gupta, in the year 2014, a very good reaction was seen when Narendra Modi came to power. The positive reaction in 2019 was because Modi returned to power again with better power. But the reaction of the market in the year 2024 will be on a different assessment. Then whether Modi returns to power again or another party’s government comes. He says that the market will react on the basis of credibility of India in the world. The reason for this is that economic crisis is being seen from China to Europe and America. In such a situation, all eyes will be on India as to how India manages in such an environment and how it contributes to the betterment of the global economy.