How Stock Markets Have Performed In 100 Days Of Modi 3.0

The stock market's performance during the initial 100 days of Prime Minister Narendra Modi's third term has been a blend of highs and lows.

Since Modi assumed office for his third term on June 9, the main stock indices have seen substantial gains, even though the broader market landscape remains predominantly positive. Despite concerns regarding potential capital gains tax increases and the BJP's failure to achieve the expected decisive victory in the Lok Sabha elections, both the Sensex and Nifty have achieved new record highs.

As of September 18, the share of BSE Sensex climbed approximately 6,500 points, reaching 82,948.23, representing an impressive growth of over 8.4%. Similarly, the Nifty50 index experienced a rise of nearly 2,087 points, or 9%, closing at 25,377.55 points.

In fact, several sectors have shown remarkable performance during this timeframe. The Nifty IT Index surged over 8%, while the Nifty Healthcare Index increased by around 17%. Stocks in defence, electric vehicles, real estate, and infrastructure have also benefitted from recent government policy announcements, including an enhanced electric mobility strategy that boosted EV stocks.

The BSE Smallcap Index performed robustly as well, climbing more than 15%, while the BSE Midcap Index grew by 10%.

Among the standout small-cap stocks, Refex Industries saw a remarkable 221% increase in just 100 days. Other notable performers include PC Jeweller (175%), Balu Forge Industries (167%), Gravita India (131%), PG Electroplast (118%), Godfrey Phillips India (114%), and Neuland Laboratories (103%).

Thus, when compared to the first 100 days of Modi's second term in 2019, during which the Nifty dropped 1,000 points and the Sensex plunged by roughly 2,800 points, the performance during Modi 3.0 shows an entirely different perspective.