Fortune India’s second edition of the Top 100 Wealth Creators sees 32 companies staying put from the 2019 list, despite the once-in-a-century survival challenges posed by the Covid-19 pandemic.
In a matter of 41 trading days, since the last life-high on February 16, the second wave of the Covid-19 pandemic has caused between 8% -9.8% correction in the benchmark equity indices until April 19.
The Covid-19 pandemic failed to affect the bulls’ spirits, as benchmark indices saw absolute annual gains between 75.2% and 117.2% while FPIs pumped in a record ₹2.74 lakh crore into equities.
The pandemic, ultimately, was unsuccessful in denting the country's capital raising confidence, as India Inc. raised over ₹1.88 lakh crore, beating the record of over ₹1.75 lakh crore raised in FY18.
Rising inflation and firming bond yields in the U.S. push down Indian benchmark indices, causing a correction of around 6% from the latest life–highs of February 16.
Though equity MFs witnessed the seventh consecutive month of net outflows in January, AMFI's chief executive says investors will continue to tap MFs as a handy route for wealth creation.
Absence of new taxes, no tweaking of older ones, infrastructure capex focus, and stronger disinvestment intent boosts equity indices, with the Sensex recording its best Budget-day gains since 1997.
Despite the Survey’s positive tone, the Sensex and Nifty 50 closed in the red, falling nearly 8% in a matter of five trading sessions from their January 21 life–high.
