Post-budget rally helped investors earn Rs 9 lakh cr last month

The post-budget rally in the stock market strengthened the BSE benchmark Sensex by over 10%, and made investors richer by more than Rs 8.91 lakh crore.

In March, the 30-share key index zoomed 2,339.86 points (or 10.17%), while Nifty climbed 751.35 points (10.75%), marking the biggest monthly gain for stock markets over four years.

This was the biggest post-budget day rally that Sensex ever saw, thanks to which it soared 777 points on March 1, which was also its best single-day show over past seven years.

This positive momentum in the equity market led the investor wealth go up by Rs 8.91 lakh crore, making it stand at Rs 94.75 lakh crore.

"The rally in the domestic market after the budget has been conceived by everyone as an affirmation to a good Union Budget 2016-17," said Paras Bothra, VP, Equity Research, Ashika Stock Broking.

Talking globally, foreign investors put in more than Rs 21,000 crore in the Indian equity market in the month that went by, after a string of continued and huge pull outs in the last four months.

In the future, investors hope for better quarterly earnings, stable global cues and more foreign money to flow in.

"India is in a relatively stable position and is expected to continue to attract FII flows over the long term, as economic fundamentals remain stronger than other emerging market economies," Bothra added.

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