New Delhi. The wealth of stock market investors increased by more than Rs 77.66 lakh crore in 2024. During this period, BSE Sensex rose by more than eight percent. Analysts said this year has seen a tug-of-war between bulls and bears, with ups and downs. Despite uncertainties around the world, Indian markets gave excellent profits. Prashant Tapse, Senior Vice President (Research), Mehta Equities Limited, said, the year 2024 has been challenging but beneficial for the markets. From January to September, Nifty continued to climb and reached a historic high of 26,277.35.
Despite some decline thereafter, the year ended with impressive growth. Despite FII selling, Nifty gave positive returns for the ninth consecutive year. This year, the 30-share BSE Sensex rose 5,898.75 points or 8.16 percent. The Sensex reached its all-time high of 85,978.25 on September 27. The market capitalization (mcap) of BSE listed companies increased by Rs 77,66,260.19 crore to Rs 4,41,95,106.44 crore in 2024. For the first time on April 8 this year, the market capitalization of BSE listed companies had reached the level of Rs 400 lakh crore.
Amneesh Aggarwal, director (research, institutional equities), PL Capital – Prabhudas Lilladher, said the beginning of the year saw a strong bullish momentum on the back of decline in inflation, cut in interest rates and hopes of BJP coming back victorious. In such a situation the indices reached record highs. Although the election results were in favor of the BJP, the party did not get an absolute majority. In such a situation, a brief decline was seen in the market. This was followed by the elimination of the yen carry trade in August, which led to another round of volatility, he said. Despite these shocks, the market reached a new peak in September.
Aggarwal said that after this there was a sharp decline due to FII selling, increased global uncertainties after the US presidential election and rising inflation. In October alone, BSE Sensex fell 4,910.72 points or 5.82 percent. Palak Arora Chopra, Director, Master Capital Services Ltd, said foreign institutional investors (FIIs) are booking profits due to high valuations, while domestic institutional investors (DIIs) continue to support the market. Heavy participation of retail investors played an important role in the positive trend of the market this year.
Disclaimer: Prabhasakshi has not edited this news. This news has been published from PTI-language feed.
