Modi 3.0 completes 100 days: Sensex zooms over 8%; BSE IT, Healthcare gain 22% each

Modi 3.0 stock market update: As Modi 3.0 completes 100 days, Indian equities have been logging stupendous gains with record high hit in Wednesday's session. In the first 100 days of Modi 3.0, Sensex has galloped a whopping over 8 per cent. Nifty also logged healthy gains of over 9 per cent.

Furthermore, besides the gains in the largecap basket, record gains have also been logged by the smallcap index. BSE Smallcap index during the same period has gained 18 per cent. Meanwhile, the high beta Nifty Bank index, a barometer of the banking sector's performance, which holds an integral part in the country's economy also rose 9 per cent during the period.

Sectoral gainers

During the review period, BSE IT and BSE Healthcare gained 22 per cent each, followed by BSE Consumer Durable indedx that soared 17 per cent. Nonetheless, the laggards have been BSE Realty and BSE Metal, which logged decline of 1 per cent and 3 per cent, respectively.

Multibagger stocks

Stocks like Refex Industries, Gravita India, PC Jewellers, Balu Forge Industries, PG Electroplast, Neuland Laboratories and Godfrey Phillips have delivered over 100 per cent return to their investors.

Why sharp gains in Indian equities?

Indian equities are broadly mirroring the global sentiment as a likely probable rate cut or monetary easing cycle by the US Federal Reserve augurs well for risky assets such as equity.