A number of equity shares have returned multifold in the last six months as Sensex has climbed to 38,000 from 34,000, we take a look at a large-cap share that has gained more than 200% in the same time.
Indian equity markets have been largely rising since the beginning of July on the back of first-quarter earnings optimism, normal monsoon, PM Narendra Modi winning trust in the no-confidence motion and recovery in FPI inflows. Earlier yesterday, the S&P BSE Sensex surged as much as 188 points to hit an all-time high of 38,076.23 before closing at 38,024.37 while NSE Nifty 50 index logged a lifetime peak at 11,495.2.
The benchmark Sensex has amassed as much as 4,000 points to breach the psychological level of 38,000 for the first time ever. BSE Sensex has taken 6 months to hit a peak of 38,000 from the level of 34,000. A number of equity shares have returned multifold in the last six months as Sensex has climbed to 38,000 from 34,000, we take a look at a large-cap share that has gained more than 200% in the same time.
Shares of the domestic research and brokerage firm Indiabulls Ventures have grown thrice in the last six months and have been the biggest gainers among all the components of Nifty 200 index. The share price of Indiabulls Ventures has appreciated by 203% to Rs 711.2 from Rs 234.4 on NSE. Following the sharp spike in share prices, Indiabulls Ventures has added about Rs 28,900 crore to its market capitalisation or the stock market value. Indiabulls Ventures commands a market cap of Rs 43,132 crore on BSE. Today itself, Indiabulls Ventures shares surged 5% to hit an all-time high of Rs 712.95 on BSE.
The domestic stock market has seen extreme volatility in the CY 2018 with regard to several occasions of weak market sentiments and negative global cues such as global sell-off in early February, multi-billion rupee banking fraud unravelling at country’s second largest PSU bank PNB, US-China trade wars, North Korea’s missile programs. Despite these much factors weighing, India’s headline indices Sensex and Nifty have outperformed key stock indices of developed equity markets such as America’s Dow Jones Industrial Average, Japan’s Nikkei, China’s Shanghai Composite, Hong Kong’s Hang Seng and Britain’s FTSE in the seven-and-half-months period of 2018.