It has been almost 9 years since Prime Minister Narendra Modi’s government came to power. After forming the government with full majority for the first time in May 2014, the BJP made a comeback in 2019 under the leadership of Narendra Modi. The 9 years of the current government have proved to be very good for the stock market. During this, the stock market made many records and the investors of the market became very rich.
Market capitalization has increased so much
According to a report by ET, during the last 9 years, the Nifty50 Index has risen more than 2 times and the market capitalization has increased 3 times to Rs 28 lakh crore. In this way, the wealth of stock market investors has increased by Rs 20 lakh crore during the last 9 years. During this, the people investing money in the stock market have also increased rapidly.
FPI and DII both upbeat
According to the report, Foreign Portfolio Investors (FPIs) made net purchases of equities worth $49.21 billion during the last 9 years. In these 9 years, there have been only 2 years when FPIs are selling in the Indian market. Domestic investors (DII) have shown even better trend. In these 9 years, domestic institutional investors put Rs 7 lakh crore in the market and they sold only once in 2020.
These sectors gave strong returns
Looking at the sectors, the best performance has been of IT companies during the tenure of the Modi government. In these 9 years, the Nifty IT index has gained 219 percent. It was followed by financial services with a jump of 216 per cent. Nifty Bank, Nifty MNC, Nifty FMCG, Nifty India Consumption and Nifty Service Sector have given 170 to 190 percent returns. Nifty 50, Nifty Energy and Nifty Auto have also been successful in giving returns ranging from 115 to 149 percent.
Sensex can cross 1 lakh
On this day in 2014, Prime Minister Narendra Modi took oath as the Prime Minister for the first time. In this way, on May 26, 2023, 9 years of the Narendra Modi government have been completed. Analysts say that if the Modi government is successful in making a comeback in the year 2024, then the stock market can touch new heights. Analyst Chris Wood of global brokerage firm Jefferies says that if the Modi government repeats in 2024, the Sensex may cross the 1 lakh mark in the next 5 years. Right now the Sensex is trading in the range of 62-63 thousand.
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