New IPOs to help add USD 400 billion to m-cap in 3 years, India to be 5th largest market globally: Goldman Sachs
The number of such 'unicorns', which are companies having a valuation of USD 1 and above, has surged in India in recent years.
FACT shot up by 175% last 12 months; only 6 out of 18 stocks from Kerala beat the Sensex
Bharti Airtel was the top gainer in the Sensex pack, jumping around 3 per cent, followed by Nestle India, Tata Steel, Bajaj Finserv, HCL Tech and ITC.
In the Sensex pack, Bharti Airtel, IndusInd Bank, NTPC, Axis Bank, ITC, ICICI Bank, SBI and Bajaj Finance were among the gainers.
HDFC was the top gainer in the Sensex pack, rising 2.56 per cent, followed by Bharti Airtel, IndusInd Bank, ITC, UltraTech Cement, Nestle India and Asian Paints.
Kaushlendra Singh Sengar, Founder & CEO said there is a certain percentage of the Indian population staying outside India, who till now does not have easy access to the stock market in India.
Among stocks, Eicher Motors accelerated by 3.7 per cent to Rs 2,834.45 per share while Hero MotoCorp rose by 1.7 per cent and Bajaj Auto by 1.2 per cent.
Oversupply, fall in quality, and valuation, all these factors have resulted in a situation where not much money was left on the table for incoming investors.
Nifty trailing PE multiples seem to be at a high level of 27 times, a sign generally associated with market exuberance.
Even competing tobacco firm Godfrey Phillips India shares have given a better return of 6.25% in the last one year.
Asian Paints was the top gainer in the Sensex pack, rising around 3 per cent, followed by Titan, PowerGrid, HDFC, M&M and Tech Mahindra.
Thanks to the optimistic investor sentiment, the market capitalisation of BSE-listed companies have zoomed Rs 31,18,934.36 crore to reach Rs 2,35,49,748.90 crore -- its record high level -- on July 30
HCL Tech was the top gainer in the Sensex pack, rising over 2 per cent, followed by Titan, Tech Mahindra, M&M, Asian Paints, Reliance Industries and IndusInd Bank.
Foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 1,459.08 crore on Tuesday, as per provisional exchange data.
Most Indian households are stuck to assets that they can feel and see. They did not participate in financial markets.