Indian stock markets closed in the negative region on the last day of the financial year 2007-2018 after a broad surge up until January 2018 from April 2017 with Sensex surpassing from 29,000 to a peak of 36,000 within the financial year but closing below 33,000 level today.
Indian stock markets closed in the negative region on the last day of the financial year 2007-2018 after a broad surge up until January 2018 from April 2017 with Sensex surpassing from 29,000 to a peak of 36,000 within the financial year but closing below 33,000 level today. During the same time under review, the wider share indicator Nifty 50 surged 10.25% breaching the five-digit mark of 10,000 for the first time ever. Nifty made a lifetime high of 11,171.55 before settling below 10,200-mark on the last day of FY18. In the span of FY18, Sensex advanced 3,348.18 points to finish at 32,968.68 and Nifty added 939.95 points to close at 10,113.7.
While there were many shares which moved insanely through the financial year 2017-2018, we take a look at top five gainers and losers among the blue-chip components of Nifty 50 index.
Top 5 NSE Nifty shares which surged the most
|Stock||Rise (%)||CMP||Price on 31/03/17|
Top 5 NSE Nifty shares which lost the most
|Stock||Fall (%)||CMP (Rs)||Price on 31/03/17|
Interestingly, Indian equity markets have soared unanimously up until January this year in the FY18 outperforming most of the major economies in terms of returns. The major factors that led the momentum in the domestic markets were an invariably high interest of investors in the primary markets, IPOs (Over Rs 60,000 crore has been raised through the initial share sales in FY18), coupled with the boosters such as Moody’s upgrading sovereign credit rating of India after 13 years, World Bank upgrading India’s ranking in Ease of Doing Business to 100th place for the first time, Narendra Modi government’s mega plan of Rs 2.11 lakh crore to recapitalise the NPA-laden PSU banks among others.
While, on the other hand, several factors including Indian GDP growth slipping to a three-year low in the July-September period, introduction of a 10% tax on LTCG (Long-Term Capital Gains), global sell-off in February 2018 and unravelling of India’s biggest banking fraud at country’s second largest PSU bank Punjab National Bank have weighed heavily on the sentiments triggering a wave of jitters.