As the Indian stock market closed Samvat year 2080, it had seen a tremendous jump of Rs 128 lakh crore-about $1.5 trillion at current exchange-to Rs 453 lakh crore in just one year, and Samvat 2080 was the largest wealth-creating Samvat year ever, resting sure about a stable government with good fundamentals and the benefits of record inflow into Indian markets by home fund at Rs 4.7 lakh crore.
The National Stock Exchange witnessed the investor base cross 20 crore. Amidst tremendous interest from the retail investors, 336 companies saw listing in Samvat 2080 — with 248 coming from the SME segment.
Almost 100 of them had launched with listing gains over 50 percent, and 163 of them are trading above the issue prices, as the data goes.
Samvat 2080 had also seen a significant jump in gold and silver's prices as they were successful in bringing returns of around 32 per cent in gold and 39 percent in silver. These might be owed to three worldwide factors—geopolitics, US presidential election and global interest rate policy—.
This festive time saw the mutual fund industry reach its total assets around Rs 68 lakh crore, while SIP investments nearing Rs 25,000-crore mark.
Diwali marks the advent of a new Samvat or Hindu New Year. During this period, there are several investors who consider that all trades made at Muhurat attract good fortune for the rest of the year.
According to market experts, with Nifty returning 25 per cent and Nifty 500 returning 30 per cent in Samvat 2080, investors must be happy.
However, the 6.2 per cent correction in October, the first above 5 per cent correction in 54 months, has triggered anxiety over the market performance going forward.
The serious concern is the relentless FII selling in October amounting to Rs 113,858 crore through the exchanges.
However, with the valuations of India now at higher levels and worries about deceleration in the earnings growth cycle, there might be further selling by FII that would impact benchmark indices. According to experts, this kind of situation should be dealt with through stock-specific investment where Q2 results have been good and therefore, the earnings visibility is bright.
Market participants are closely watching the outcome of the US election next week, said Jateen Trivedi of LKP Securities, as the outcome is likely to be a decisive factor for gold's trend.
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