This Financial Year, Sensex and Nifty rallied around 70 per cent
The financial year 2020-2021 was one of the most volatile years for the stock exchanges. This financial year recorded both all-time lowest and highest levels of benchmark indices, rallying around 70 per cent alone in the FY21.
The financial year 2020-2021 was one of the most volatile years for the stock exchanges. This financial year recorded both all-time lowest and highest levels of benchmark indices, rallying around 70 per cent alone in the FY21.
S&P BSE Sensex zoomed 68 per cent while the Nifty 50 index soared 71 per cent on the back of strong foreign portfolio investment inflows of Rs 2.6 lakh crore, as per the data available on the exchanges.
As India entered the financial year 2020-2021 with lockdown measures to curb the spread of coronavirus, the stock market nosedived to see its lowest. Sensex fell to 27500-mark, whereas the Nifty 50 dropped below 8000-mark in April last year.
Amid lockdown imposition, the businesses across segments were dud, which sent foreign institutional investors in panic mood and erosion in the bourses for around 30-35 per cent, as White Oak Captial's Chief Executive Officer Aashish P Sommaiyaa says while speaking to Zee Business Managing Editor Anil Singhvi last week.
Immediate after the lockdown restrictions were eased, Indian markets went into reverse swing and benchmark indices along with broader markets surged to reach a new height.
Sensex breached 52500-mark and Nifty 50 crossed 15400-level on February 16, 2021. The former gained over 20,000 points while the latter by 6,100 points, as per the data mentioned on the BSE and NSE respectively.
However, on the last day of the current fiscal, the headline indices ended the in the negative territory, falling over 1 per cent. The sell-off in private bank and IT stocks outweighed the buying in stocks of PSU Banks, FMCG, and realty counters.
Market breadth favoured the bears, as 1,483 stocks declined while 1,397 advanced. A total of 199 scrips remained unchanged.
In the broader market, the S&P BSE Midcap index ended 15 points or 0.07 per cent higher at 20,181.31 while the S&P BSE SmallCap index advanced 106 points pr 0.52 per cent to finish trade at 20,649 on the last day of financial year 2020-2021.
(Authored by Vaibhav Bansode)
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