Equity investors grew up by Rs 32.49 lakh crore in 2020 following up with the stock market that had been hit by the Covid-19 pandemic.
The Covid-19 outbreak has affected the lives and livelihood of people globally, which has shattered businesses and shaken the world equities. Yet, moving towards the end of the year the Indian Indices raised hopes of returning to its track.
The BSE benchmark saw ruthless selling and massive buying in the year 2020, as the Sensex recorded 15.7 per cent high gains.
During the year, markets witnessed uncertain trends as the benchmark crashed to 25,638.9 on March 24, which was its lowest. It made a comeback with a record high of 47,896.97 on the last day of trade for the year 2020.
The last day of the trade has also been uncertain as the BSE benchmark inched up to 5.11 points, reaching its new closing record of 47,751.33.
Joseph Thomas, Head of Research, Emkay Wealth Management told news agency Press Trust of India (PTI), "While expectations of a rebound in economic growth, and the consequent resurgence in corporate earnings, breathe into the markets an unusual optimism, the fact that India would continue to be one of the fastest-growing economies in the world with a large consumer market, and an extraordinary potential for growth and development, instils greater confidence in not only domestic investors but also overseas investors."
He further added that this is the singular factor that would keep the markets going, but we need to be cautious about the pandemic, keep a watch on its effective containment is crucial geographies like the US and EU, and also build in the implications of rising inflation and higher oil prices into our expectations on interest rates.
Meanwhile, Reliance Industries remained India's most valuable firm. The market value of Reliance is ₹ 12,58,157.10 crore, followed by TCS (Rs 10,77,009.46 crore), HDFC Bank (Rs 7,91,312.61 crore), Hindustan Unilever Limited (Rs 5,62,378.04 crore) and Infosys (Rs 5,34,940.34 crore).
