Mumbai: Since Diwali 2023, Indian investors amassed a fortune worth Rs 453 lakh crore, a jump of $1.5 trillion or Rs 128 lakh crore, making Samvat 2080 the most auspicious year for wealth creation. Samvat is the traditional Hindu calendar whose timelines differ from the Roman calendar which is followed for official purposes.
Record inflows from domestic funds have helped investors amass this record wealth since last Diwali, according to Shripal Shah, MD and CEO at Kotak Securities.
Reason behind Indian investors’s record wealth creation
Indian investors created record wealth on the back of a stable government at the Centre, according to Shah. He said this helped to shore up investor confidence despite ongoing geopolitical conflicts. India’s strong macroeconomic fundamentals also had a part to play, he added.
Another important aspect of this wealth creation story has been the addition of new investors to India’s stock market, he added. The NSE informed earlier this week that its investor base had expanded beyond the 20 crore mark. Mutual fund investments have swelled past the Rs 25,000 crore mark on a monthly basis and total annual assets managed by the industry stood at around Rs 68 lakh crore, the TOI reported.
To be sure the Sensex has given 22 per cent returns compared to the S&P 500 on Wall Street’s 24 per cent returns since last Diwali. Gold (33 per cent), Silver (37 per cent) and bitcoin (72 per cent), gave even higher returns compared to the benchmark Indian index.
How Indian indices started Samvat 2081
The onset of Samvat 2081 on November 1, 2024, gave investors a reason to cheer as benchmark Indian indices, the Sensex and the Nifty were off to a positive start during Muhurat Special Traidng on Friday. The Sensex closed 335.06 points higher at 79,724.12, while the Nifty was up 94.20 pts to settle at 24,304.35.
The beginning of Samvat 2081 is an occasion to take stock of how the stock market performed since the previous Samvat. With the Sensex and Nifty off to a positive start in Samvat 2081, let’s see how much wealth was created since Samvat 2080. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
