Led by the rally in stocks, investors' wealth zooms to Rs 8.83 trn in FY19

Representative Image

Investors' wealth zoomed Rs 8.83 trillion during 2018-19 financial year 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 trillion during the 2017-18 financial year.

"Since the dawn of 2019, Nifty has managed to overcome multiple hurdles (Indo-Pak tension, concerns of a 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 earnings growth in Q4 will be inevitable to support the rally," said Vinod Nair, Head of Research, Geojit Financial Services.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel