Nutrient: Sensex gains 9% since last Diwali, PSB stocks jump 53%

MUMBAI: Dalal Street investors were richer by about Rs 46 lakh crore during Samvat year 2079 that ended on Friday with net buying of Indian stocks by foreign and domestic investors together worth over Rs 3.2 lakh crore.

The two leading indices – the sensex and Nifty – showed gains of about 9.5%, compared to a marginal negative close in last Samvat year 2078 and a 38% gain in 2077.It was also the year ofPSU bank stocks, which made a stellar run on the bourses with NSE’s PSU banking index giving a return of over 53% since last Diwali.
Vikram Samvat, which is about 57 years ahead of the Gregorian calendar and starts on the day of Diwali, is followed by the trading community on Dalal Street.
Total investors’ wealth, reflected by BSE’s market capitalisation, was at Rs 323 lakh crore, from Rs 277 lakh crore, official data showed. The rise in investors’ wealth came on the back of strong buying by foreign funds who net pumped in Rs 1.4 lakh crore and domestic institutions, who net bought stock worth 1.9 lakh crore.
Samvat year 2079 was the year of mid- and small-cap stocks with foreign and domestic funds pumping in large amounts of funds into these stocks, market players said. As a result, BSE’s small-cap index gained a little over 34% while the midcap index was up 31%, BSE data showed. Stock prices of nine government-owned banks more than doubled during the year of which two – J&K Bank and UCO Bank – tripling in value.
The year also witnessed one of the most damning corporate activities in recent times. In late January, Hindenburg attacked the Adani group with several charges, which the conglomerate has denied. However, the selloff in Adani stocks wiped off Rs 13 lakh crore market cap.