Sensex offers more than 100% return in Samvat 2065
With the gradual improving market conditions, the Samvat 2065 proved very fruitful for BSE Sensex, yielding 100 per cent results between previous Diwali and current one.
No one could have even imagined such a stunning growth in the capital market given to the challenges posed by global slowdown.
Dinesh Thakkar, CMD, Angel Broking said, "Markets have bounced back from its lows, on back of the rebound in economic activity and improved corporate performance."
The Sensex plunged to a 52-week low of 7697.39 points in the last year trading before reporting an astonishing growth to close 03.5% higher on Friday. The recent surge of 125 per cent from the last year low is backed by huge FDI inflow of $13 billion so far in India.
Once panicked foreign investors, who pulled out huge $10.4 billion in fiscal 2009, have again shown strong faith in the Indian economy in the midst of better than expected outlook for next months.
Despite overall improvement across all segments, India’s infrastructure, automobile and metal scrips out-performed, with Jaiprakash Associates scored highest return of 387.8 per cent followed by Torrent Power, Ranbaxy Labs, HDFC Bank, Tata Motors and Sterlite Industries.