Investors might have lost about Rs 27 lakh crore in terms of market capitalisation in the first year of Modi 2.0, but five stocks turned multibaggers and 20 stocks rose more than 50 percent in the first year of the Modi government's second stint at the Centre.
The average market capitalisation of the BSE-listed companies fell from Rs 154.43 lakh crore as on May 30 2019 to Rs 127.06 lakh crore as on May 29, 2020.
The Narendra Modi-led government marks the first anniversary of its second term today. The market did hit a record high back in January but the course changed as bears took control of D-Street pushing the index towards crucial support levels.
There are as many as five stocks in the S&P BSE 500 index which turned wealth creators in the last 12 months including names like Abbott India, Navin Fluorine, Alkyl Amines Chemicals, GMM Pfaudler, and Adani Green Energy Ltd.
There are 20 stocks that rallied more than 50 percent since May 30, 2019 in the S&P BSE 500 index that include names like Dhanuka Agritech, Granules India, AstraZeneca Pharma, Ipca Laboratories, Dixon Technologies, and ICICI Securities, etc. among others.
The last year turned out to be a volatile year for Indian markets. Although optimism of the second term of the Modi government also meant pro-growth reforms which helped benchmark indices climb the wall of worries as growth took a hit, along with rising inflation.
Global cues remain muted as the equity investors across the world turned risk-averse largely on account of the US-China trade war, as well as outbreak of COVID-19 which resulted in shutdown of economic activity not just for India but other countries across the globe.
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