Stock Market Performance During PM Modi’s Tenure
The stock market has undergone significant transformations over the last decade, and much of this change can be attributed to the policies and governance of Prime Minister Narendra Modi. As we celebrate the completion of 10 years of PM Modi’s administration, it is important to reflect on how the stock market has performed during this period. Starting from a low of 24,000 points, the BSE Sensex has soared to an impressive 83,000 points, marking a remarkable increase of over 225% since May 2014.
Key Milestones of the BSE Sensex
| Date | Milestone |
|---|---|
| April 26, 2017 | Crossed 30,000 points |
| June 3, 2019 | Crossed 40,000 points |
| February 3, 2021 | Reached 50,000 points |
| September 24, 2021 | Reached 60,000 points |
| December 14, 2023 | Touched 70,000 points |
| January 15, 2024 | First milestone of 73,000 points |
| March 6, 2024 | Crossed 74,000 points |
| April 2024 | Reached 75,000 points |
| July 3, 2024 | Crossed 80,000 points |
| September 12, 2024 | First time crossing 83,000 points |
Impact of Government Policies
The remarkable rise of the stock market during PM Modi’s decade-long leadership can be traced back to various government policies, prominently the push for digitalization. Empowering citizens with easy access to stock trading through smartphones and apps has motivated a surge in retail investors. This demographic, once limited in participation, has now become a key driver of market momentum, contributing significantly to the overall growth of the market.
Resilience Against Challenges
Despite global challenges, such as the economic downturn during the COVID-19 pandemic—when the Sensex and Nifty fell by over 30%—the government took robust steps to rectify the situation. A substantial fiscal package of ₹20 lakh crores was introduced, and efforts to promote domestic manufacturing via initiatives like Production-Linked Incentive (PLI) schemes helped restore confidence in the economy. The proactive stance of the Modi government allowed the stock market to bounce back stronger, achieving new heights not only in terms of the index levels but also in the breadth of sectors participating in the growth.
Broad Market Growth and Future Outlook
The current stock market boom is not limited to a few sectors; it has been inclusive, with midcap and smallcap indices outperforming larger benchmarks. Investors have celebrated significant gains across various sectors, enabling many small investors to reap substantial profits. As of now, the total market capitalization of BSE-listed companies has surged to approximately $5.4 trillion, positioning India as the fourth largest stock market globally, behind the USA, China, Japan, and Hong Kong.
As we look to the future, the primary question remains—will the Sensex breach the coveted 100,000 points mark during PM Modi’s ongoing tenure? The combination of robust government policies, increased participation from retail investors, and a favorable economic landscape suggests that while challenges may arise, the potential for continued growth remains bright.
