A day after facing massive erosion from their wealth, equity investors became richer by Rs 13.22 lakh crore on Wednesday with markets making a strong comeback.
The 30-share BSE Sensex jumped 2,303.19 points, or 3.20 per cent, to settle at 74,382.24.
During the day, it rallied 2,455.77 points, or 3.40 per cent, to 74,534.82.
Rajguru feels domestic manufacturing will remain a key focus area of the government, both for import substitution as well as positioning India as a ‘factory to the world.’ That will not only help in employment generation and overall development, but also support the currency and help revive private capex.
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At the end of October-month, largecap holding in smallcap schemes rose to Rs 12,470 crore, which is 6.3% of total assets under management (AUM) in the category.
"Valuations, after very muted market returns and strong earnings growth over the past two years, have also turned reasonable, moving closer to the historical averages with Nifty trading at around 18.5x one-year forward earnings estimates. Overall market sentiment seems positive with broad market participation and healthy domestic flows, with the monthly SIP flows clocking $2 billion."