Samvat 2081 turned out to be disappointing for investors with benchmark indices recording their worst returns in three years, although these were positive. After a good start, the Sensex delivered a modest 5.7% return, gaining 4,563 points to close at 83,952.19. The Nifty gained 6.2% or 1,504 points, to end at 25,709.85. Samvat 2080, had seen the Sensex surge 22.3% and the Nifty jump 24.6%.
Investors’ wealth rose by ₹22.2 lakh crore, or 5%, to ₹466.92 lakh crore — marking the lowest increase in the past three years. Foreign portfolio investors (FPIs) offloaded shares worth ₹1.47 lakh crore ($16.8 billion), contributing to the benchmarks’ subdued performance, while domestic institutional investors (DIIs) provided crucial support with net purchases worth ₹6.85 lakh crore.
Neeraj Chandawar, head (research), Axis Securities, observed that Samvat 2081 had been challenging for equities and that India had underperformd global and emerging peers for the first time since the Covid-19 era. “Indian equities witnessed a roller-coaster ride, marked by extreme volatility in the first half of Samvat 2081.That was followed by a sharp rebound from the February 2025 bottom and a broad-based recovery across sectors and market caps in the second half,” he pointed out.
The broader BSE Midcap and BSE Smallcap indices also failed to cheer investors during Samvat 2081. The BSE Midcap index registered a modest gain of 0.9%, compared with 31.3% and 41.1% returns in the preceding two years, while the BSE Smallcap index declined 3.5%, against gains of 34.3% and 43.3% in the previous two Samvat years.
Analysts at Motilal Oswal Wealth Management believe that in Samvat 2082 we will see domestic cyclicals and structural growth themes perform well. “We are positive on sectors such as BFSI and capital markets, consumption, manufacturing—EMS,defence,industrial and digital,” they said.
The Sensex and Nifty fell up to 9% during the first half but recovered around 16% in the second half of Samvat 2081. Similarly, the BSE Midcap and Smallcap indices declined as much as 22% in the first half before bouncing back with gains of up to 24% in the latter half.
Among sectors, the auto index (up 13.2%) emerged as the top performer, benefitting the most from recent GST rate cuts, followed by financial services, banking, services, and metals — which rose up to 12.9%. On the other hand, the IT sector, hit by concerns over the US economy and the H1-B visa fee hike, was the top laggard, followed by power, utilities, TECK, and realty, which declined up to 12.5%.
Bajaj Finance led the Sensex gainers with a 55.3% rise in its share price, followed by Maruti Suzuki, BEL, Eternal, and M&M, which advanced up to 48%. In contrast, Trent, TCS, Infosys, NTPC, and HCL Tech were the top Sensex laggards, falling up to 32.5%.
Telecom major Bharti Airtel emerged as the top wealth creator in Samvat 2081, with its market capitalisation rising by ₹2.42 lakh crore. TCS, however, was the biggest laggard, losing ₹3.65 lakh crore in market capitalisation during the year.