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Nifty Hits 10,000: Historical Moment For Indian Markets

 

It is a bull run on Dalal Street and historical moment for India’s most extensively traded exchange. The Nifty has hit the psychologically important 10,000 mark in intra-day trade. Market experts are calling this a symbolic moment and true manifestation of the deep structural changes that are being undertaken by the Government. There is a sense of elation across the investment community and even the common man can feel a sense of optimism.

Earnings is seen as one of the key catalysts for this sustained spree of gains in the market. Better than expected first quarter earnings for the financial year 2017-2018 has lifted the investor spirit in the market. Most blue-chip stocks have had a dream run in the recent run-up.

But have you wondered why this is such a sentiment booster? Well for starters it indicates that the policy moves thus far have been abetting growth and in many ways, investors are deducing growth going into future. In fact, the recent IMF statement on growth prospects for India Vs China has been a major catalyst. Their GDP forecast for India is at 7.2% for this financial year and around 7.7% in the next fiscal. The international monetary fund expects growth in India to not just pick up but stay well ahead of China going forward.

It is needless to mention that this sentiment up move has also resulted in increased fund inflow. Foreign exchange reserves rose by $2.681 billion to touch a new lifetime high of $389.059 billion in the week to July 14. Additionally, the GST factor has also helped in the whole fund inflow wave. Foreign investors have pumped in close to $2.5 billion in the capital markets and trouble-free roll-out of GST has played a major role in this. The inflow so far this year is a whopping $25 billion.

Though the markets closed shy of the crucial 10,000 mark, sentiment remains buoyant on the street. Investor focus seems to continue on higher growth targets, better corporate earnings, encouraging policy moves and increased fund flow aided by all these factors.

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