The Modi-era may not have has ushered in achche din on the price front, but for the stock markets, it’s already party time with major indices soaring to new highs. The BSE has added over Re. 12 lakh crore in market capitalisation during the first 100 days of the Modi Government.
The Sensex has raced past 27,000 and the NSE’s Nifty has crossed the psychological 8,000-mark effortlessly. Sectoral indices such as BSE Metal, Power and Capital Goods are at their 52-week high levels, making the rally more broad-based.
Since the Modi government took over, foreign investors have invested Re. 45,000 crore ($7.5 billion) into Indian equities, taking the total investments to Re. 77,803.24 crore ($12.947 billion) in this fiscal year. The mutual fund industry’s Assets Under Management have also crossed Re.10 lakh crore, on the back of small investors' interest.