For India to achieve developed country status by 2047, the govt and other stakeholders must balance enhancing domestic growth drivers, attracting foreign capital and improving external market access

FPJ News Service mumbai

Benchmark indices Sensex and Nifty settled marginally higher in the special one-hour Muhurat trading session on Tuesday, marking the beginning of the new Samvat Year 2082 on a positive note despite global trade uncertainties.

“As a tradition, the new Samvat Year marked the opening of new accounting books for traders and investors. As international research firms underlined, 'for India to achieve developed country status by 2047', the government and other stakeholders must balance enhancing domestic growth drivers, attracting foreign capital and improving external market access,” chairman of a stockbroking firm told The FPJ Money.

The 30-share BSE Sensex settled 62.97 points higher at 84,426.34. During the special Muhurat session, the benchmark tested a high of 84,665.44, and a low of 84,286.40. The broader NSE Nifty closed 25.45 points higher at 25,868.60.

According to Dr. VK Vijayakumar, chief investment strategist at Geojit Investments, the important takeaway from Samvat 2081 was India’s huge underperformance. Even though there are many reasons, including Trump tariffs, for this underperformance, the single major factor is the sharp decline in India’s earnings growth to 5 % in FY 25 from average 24 % during the three years before that. The key trend will depend on how earnings growth pans out.

The fiscal and monetary reforms implemented this year have started showing results. Particularly, the sales of automobiles and white goods have shot up early this festive season and, if this trend sustains, earnings growth will be good at around 8 to 10% in FY 26, accelerating to around 15 % in FY 27. “If this expectation materialises, the market will rally in Samvat 2082 compensating for the underperformance of Samvat 2081. In the short run, the market may get a leg up from a possible India- US trade deal, but the long-term trend will be dictated by earnings growth,” Dr VKV added.

Bajaj Finserv rose the most by 1.42%, Axis Bank gained 0.80%, Infosys by 0.72%, Mahindra & Mahindra by 0.60%, Tata Motors by 0.55%, Bajaj Finance by 0.53% and Tata Steel by 0.52%. Kotak Mahindra Bank, ICICI Bank, HCL Technologies, Bharti Airtel, Maruti Suzuki India, Trent and TCS were among the top losers. European shares rose in early trade while Asian peers ended with gains. Shanghai’s Composite benchmark increased by 1.36%, Hang Seng index climbed 0.77%, Kospi went up 0.24%, and Nikkei 225 rose 0.15%. On Monday, the 30-share BSE Sensex jumped 411.18 points to close at 84,363.37, while the 50-share NSE Nifty surged 133.30 points to settle at 25,843.15.