Sensex Ends 226 Points Higher; Capital Goods And Banking Stocks Witness Buying

Indian share markets ended their trading session on a positive note today.

At the closing bell, the BSE Sensex stood higher by 226 points (up 0.6%) and the NSE Nifty closed higher by 67 points (up 0.6%).

The BSE Mid Cap index ended up by 0.8% and the BSE Small Cap index ended the day up by 0.5%.

On the sectoral front, gains were seen in the banking sector and capital goods sector.

Asian stock markets finished on a mixed note as of the most recent closing prices. The Hang Seng stood up by 0.15% and the Nikkei was trading up by 0.13%, while the Shanghai Composite was trading down by 2.75%.

European markets were trading on a positive note. The FTSE 100 was up by 1.73%. The DAX was trading up by 1.37%, while the CAC 40 was trading up by 1.38%.

The rupee was trading at 71.33 to the US$ at the time of writing.

Speaking of the Indian economy and Indian share markets, Ankit wrote to you about a recent upcoming IPO. It's a company profiting from two megatrends - digitisation and financialisation - in the Indian economy.

Have a look at the chart below. A quick comparison of assets under management (AUM) of mutual funds in India versus abroad will give you a clear idea of the huge megatrend.

Mutual Funds: Megatrend of the decade?


India's mutual fund AUM as a percentage of GDP is 11%. This is far lower than the world average of 55%.

Here's what Tanushree Banerjee wrote about it in a recent edition of The 5 Minute WrapUp...

  • I strongly believe, the next decade could be the decade of financialization in India.

    Traditionally, Indian households have preferred to invest in physical assets like real estate but things are changing.

    Indians now are more open to investing in financial assets like mutual funds. Better awareness, financial education, increasing urbanization are all driving this change.

    Mutual fund AUM grew 24% annually in the last 5 years. I expect India's GDP to grow at 6-7% over the next decade.
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