Investors Gain $1.5 Trillion in Wealth Since Last Diwali
Experts noted that elections, a good monsoon, and measures to protect investors boosted the market.
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The stock market ended Samvat year 2080 on a negative note. The Sensex dropped 553 points to 79,389.
This is near a three-month low. The Nifty closed lower at 24,205 points, down 136 points.
This month saw significant selling by foreign funds. Selling reduced the leading indices by about 6%.
Despite this, investors' wealth in India grew significantly. It increased by Rs 128 lakh crore (around $1.5 trillion) to Rs 453 lakh crore since last Diwali.
Samvat 2080 became the biggest wealth-creating year on record.
Growth came from a stable government and good inflation management.
Strong economic fundamentals also helped. Domestic fund inflows hit a record Rs 4.7 lakh crore.
Experts noted that elections, a good monsoon, and measures to protect investors boosted the market. The NSE reported over 20 crore investors.
Mutual fund assets reached Rs 68 lakh crore. SIP inflows are nearing Rs 25,000 crore.
Bitcoin gained 72%. Gold went up by 33%. Silver increased by 37%.
The rupee and crude oil had low returns. Some called for the Sebi chief to resign over conflict of interest claims, but he denied it.
Next year, Samvat 2081 may be tough for Indian stocks.
