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Now Sensex @ 100,000 is well within achievable limit.
With $3.31-trillion valuation, India reclaims fifth spot in global stock market.

Due to continued buying from foreign investors amid improving macroeconomic conditions in the country, the local equity markets in India is in a rally since March 28, The Sensex and the Nifty jumped nearly 10 percent, while BSE MidCap and SmallCap climbed nearly 15 percent. The BSE Bankex has climbed nearly 13 percent. Foreign investors have bought nearly $6.3 billion in local equities in the last two months.

Following such broad-based rally in local equities, India has reclaimed its position as the world’s fifth-largest market. India’s market capitalization stands at $3.31 trillion. It is now ranked fifth among the top-10 most-valued countries. Since the beginning of this year, it has experienced an increase of almost $330 billion market capitalization. This comes after briefly losing the spot to France in January. The positive performance of the Indian stock market contributed to this resurgence in ranking.

In comparison, the US holds the top spot with a market value of $44.54 trillion, followed by China with $10.26 trillion and Japan with $5.68 trillion. Hong Kong is ranked fourth with a market capitalisation of $5.14 trillion, while France holds the sixth slot with $3.24-trillion market value.

Many Foreign brokerage including Jefferies recently expressed confidence in India’s enduring structural narrative. Some of the experts believe that it is only a matter of time before the BSE benchmark Sensex crosses the remarkable 1,00,000 milestone.

Since Jefferies’ projection is based on an assumption of 15 percent earnings per share (EPS) growth over a five-year period and the maintenance of a five-year average one-year forward price-to-earnings (PE) multiple of 19.8 times. Chanakya also believes that the target of sensex @ 100,000 is well within achievable limit.

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