Business Daily from THE HINDU group of publications
Tuesday, Jan 01, 2008
ePaper | Mobile/PDA Version
Business Daily from THE HINDU group of publications Tuesday, Jan 01, 2008 ePaper | Mobile/PDA Version |
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Stock Markets Markets - Insight
Kumar Shankar Roy The year 2007 will be remembered as one of the best years for stock investors as the domestic markets more than doubled in value. Market capitalisation of the Indian stock market stood at Rs 72 lakh crore, up by 118 per cent in the calendar year. Besides appreciation of listed entities, the rise in value was partly helped by blockbuster public offerings from ICICI Bank, DLF, PFC etc. Since 1992, when foreign institutional investors (FII) were first allowed to invest in Indian stock markets, this year ranks amongst the five best years for the benchmark indices. Bellwethers, Sensex and Nifty logged returns of 46.6 and 53.3 per cent respectively, leaving investors with high expectations as we enter 2008. Dream yearFor the Sensex in particular, this was a dream year as seven peaks from 14,000 to 20,000 were scaled – the highest in any year since the index’s inception way back in 1979. Sensex returns in the 2007 are only behind those clocked in 2003, 1999 and 2006. The bellwether added over six thousand points, higher than the five thousand in 2006. The Nifty outpaced the Sensex by around 7 percentage points for the year. FIIs pumped in a record $17.2 billion in domestic equities in 2007. The previous record was FII investment of $10.7 billion in 2005. handsome returnsInvestors were rewarded with handsome returns in stocks from sectors such as capital goods, metals and oil and gas. underperformersFMCG and Healthcare remained underperformers. However, automobiles and information technology sectors were the laggards with the BSE sectoral index for the latter giving negative returns. The multi-baggers from 10k to 20k How expensive is the Indian market? Indian markets among top wealth creators More Stories on : Stock Markets | Insight
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