Team Blitz India
NEW DELHI: India’s market cap gained 26 per cent to touch $4.2 trillion in 2023 and it added $900 billion in market capitalisation, equivalent to the entire market capitalisation of countries such as Brazil, Swedenand Netherlands, as per data analysed by Pantomath Capital Advisors.
Indian equity emerged as one of the best-performing markets in last two years. In 2023, benchmark indices soared to unprecedented highs, with the Nifty and Sensex scaled milestones of 21,000 and 70,000 mark, respectively while the NSE Midcap 100 and NSE Smallcap 250 advanced 40.9 per cent and 42 per cent, respectively in the calendar year 2023.
Domestic SIP inflows emerged as a key source of retail inflows in equities, reaching Rs 130 billion in fiscal 2023 and is projected to reach Rs 153 billion in FY 24.
“The Indian corporate earnings began showing improvement, with companies benefiting from a softening in commodity prices, leading to enhanced profitability and margins. Companies are expected to continue strong performance in the upcoming quarters, driven by a robust domestic demand environment, positive macroeconomic factors and private capex revival.
“A record capex of Rs 26 trillion vis-à- vis Rs 10-12 trillion four years back will continue to foster momentum,” said Mahavir Lunawat, Managing Director, Pantomath Capital Advisors.
