It took over 31 years for Sensex to traverse from 1,000 points to the historic 60,000 level. The benchmark was at 1,000 points back in 1990 and it touched the 30,000 mark in 2015.
If you are a foreign investor, remember that India has reached a scale where a 10% equity exposure in your portfolios is a necessary growth allocation.
The magic of the Sensex lies in looking at it as a long-term asset. There has not been a single 5-year period in which the Sensex has not recovered its value.
The RBI governor also warned about the rally, citing the disconnect between the markets & the economy as well as expectations bad-loan ratios at lenders will almost double this year.
In episode 605 of #CutTheClutter, Shekhar Gupta parses numbers to highlight how public sector firms and banks lost Rs 6.9 lakh crore in value in 6 years.
Public sector firms and banks’ total market capitalisation was Rs 19.1 lakh crore in May 2014, but by 28 October 2020, they have lost Rs 6.9 lakh crore.
Sensex stayed in the positive territory throughout the session, closing at 37,930.33 and Nifty ended at 11,162.25 — the highest closing for both the benchmarks since 5 March.
Along with crash in value of UST and Luna coins, Indian market for crypto assets also reeling under strict control imposed by government, with the imposition of TDS on all crypto transactions.
Doval's comments came at 4th Regional Security Dialogue on Afghanistan attended by national security advisors from Tajikistan, India, Russia, Kazakhstan, Uzbekistan, Iran, Kyrgyzstan & China.
Global order is in flux, and India is being wooed by all. It opens up economic, strategic & military possibilities unimaginable till recently. It is for India to take this opportunity.