We complete a year since a low was hit on March 23 2020 and what a spectacular ride it has been since then!! Indian stock market investors have gained Rs.103.78 lakh crore or 101.88% in market wealth since March 23 2020. On that day, the market cap of BSE-listed firms fell to Rs. 101.86 lakh crore against market cap of Rs 205.64 lakh crore today. The decline in market cap came after Sensex and Nifty logged their highest losses ever.
While Sensex lost 3,934 points to 25,981, Nifty closed 1,135 points lower at 7,610. Sensex closed at 50,051 today, clocking a gain of 24,070 points or 92.64% in one year. Nifty ended at 14,814 today, climbing 7,204 points or 94.66% during the period.
The point is quite simple….Buy right and Sit Tight! Volatility is part of long term investments and it is best to cut the noise and let your money work for you. Here is another chart that makes this point …How has the some of the Sensex constituents performed over 21 years since the turn of the century?? And surely we have seen enough crashes in these 2 decades and yet look at the returns!!
As another financial year begins, let us focus on the controllable and our goals. Let money work for you while you focus on things you enjoy doing!!
Together let us make the new financial year a profitable one.
Source: Business Today, Value Research