benefitted either in the secondary market IPO market and were seen selling their holdings, as a result the public ownership in the India Inc came down to 6-7 per cent as against a high of 15 per cent 2007, he said.
Though the Sensex could not surpass its all-time peak registered in 2008, the sectoral indices like BSE-FMCG, BSE-HC, BSE-CD and BSE-Auto logged their historical highs during the year on hectic buying by foreign funds.
Analysts said at the beginning of 2012 investors feared of further slide in view of corruption scams. However, the market surprised everyone by rising almost 1,739 points or 11.25 per cent, largest monthly rise in absolute term in the month of January in any calender year, following hectic buying by Foreign funds.
It was also the biggest monthly performance since September 2010 when it had gained by 2,098 points or 11.67 per cent. The rally in the month was driven by strong global cues on hopes of some stabilidation in the Europe and gradual improvement in the US economic data.
On domestic front, the government's decision to allow Qualified Foreign Investors (QFI) to invest directly in local equities from January 15, 2012 and signs of more foreign funds inflow also underpinned sentiment.
The Union Budget, which was delayed this year due to the Assembly polls in five states, presented by then Finance Minister Pranab Mukherjee on March 16 failed to enthuse the investors and plans to revive the economy.
The market then turned negative and remained dull for the next few months due to slowdown in GDP growth, worries over macroeconomic conditions due to higher global crude oil prices, as India imports two-third of its oil consumption, rising trade deficit, weakening currency and global uncertainty.
Fears that reform process may take back seat after the ruling Congress party suffered a setback in some states in March and cut in China's growth target also weighed on the market sentiment.
Revival of monsoon at the fag-end and Moody's retaining stable outlook on India supported the weak stock markets.
Moreover, announcement of reform measures such as allowing FDI in multi-brand retail and downsizing the LPG subsidy by