Thanks to the coronavirus-led late March mayhem on the Dalal Street, benchmark indices for FY 2020 ending March 31, 2020 posted a steep decline of 26%. In March alone the Nifty cracked a huge 24.5% from its opening levels of 11,387 on March 2 to closing at 8,597 points on March 31.
H1FY21 performance check of Indian indices
Even as uncertainty continued to grip the markets, it has been an outstanding show in H1FY21 with 31% gains on the Sensex and Nifty. And the rally primarily is spurred by liquidity infused by central banks across the world, global markets and attractive valuations.
RIL scrip contributes almost 1/3rd to Nifty’s gains in H1FY21
Reliance Industries (oil to telecom conglomerate) having bagged back to back investments into Jio Platforms and lately into its retail arm during the review period saw gains to the tune of 100%, contributing the most 800 points or 30 percent to Nifty's gains of over 2600 points between April 1 and September 30, 2020.
Nifty performance in the previous years
Performance of global stock markets versus Indian stock market
Among all the key global stock indices, Nasdaq staged a sharpest surge of 44 percent during the first half of FY21, while Indian indices also made it to the list of top performing global stock indices during the review period. In the Asian market, Japan's Nikkei index recorded growth of 23%, while China's Shanghai added 17% to the index and Hong Kong's Hang Seng cracked 1% in the past six months.
Within the European market, German DAX gained 28% while French CAC and UK's FTSE added just 5 and 9 percent, respectively.