Investor wealth soars 27pc to over Rs 67 lakh cr in 2012
Indian bourses made a dramatic turnaround after a meltdown in 2011, leaving behind strong optimism about a bullish 2013 in hopes of RBI rate cut, hefty capital inflows, a recovery in global economy and excellent earnings growth in the third quarter of 2012-13.
The smart recovery helped investor wealth to soar by over Rs 14.5 lakh crore to Rs 67,78,609 crore on December 21, 2012 against Rs 53,12,875 crore at the end of last year.
The Q3 earnings, which are most likely to beat the market pundits, indications of more reforms by the UPA government and hopes of increase in retail participation in quality IPO/FPO and OFS in the near future expected to augment the bullish fervor in 2013, an analyst said.
The BSE sensitive index Sensex posted impressive gains of 3,787 points, or 24.5 per cent, at 19,242 on December 21, 2012, against preceding year-end's close of 15,454.92 points.
The Sensex had lost 5,054 points, or over 24 per cent, during 2011. The National Stock Exchange's Nifty also spurted by 1,223 points or 26.5 per cent to 5,847.70 on December 21, 2012 from previous yearend's close of 4,624.30.
Investors ignored dwindling industrial output, declining exports, ballooning fiscal deficit, overall gloomy economic atmosphere in domestic and international markets amid
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