Mumbai:As India turns a senior citizen, so to say, investors in equity markets have made wealth worth crores with average market value of listed companies growing to near Rs1,000 crore today from less than one crore in 1947.
According to a PTI analysis of stock markets’ evolution, average market value of listed entities has multiplied more than thousand-times from about Rs90 lakh at country’s independence to a whopping Rs980 crore at present.
The average market value would rise further to near Rs1,600 crore if only actively-traded companies are taken into account.
While there are close to 4,600 listed entities in the country, regular trading is recorded in less than 3,000 firms.
The overall investor wealth, measured in terms of the cumulative market value of all listed firms, has expanded exponentially to about Rs45 lakh crore from just about Rs1,000 crore in 1947.
This massive growth in total market value is despite the number of companies listed on the bourses increasing just about four times to near 4,600 from about 1,100 at the time of independence.
Today, the stock market heavyweight includes Reliance Industries, ONGC, Infosys and Wipro among others. In 1960s, the favoured scrips were Tisco, Century Mills, Bombay Dyeing, Telco, Scindia and Indian Iron.
Interestingly, the history of stock exchanges in India dates back to nearly 200 years ago with East India Company being a dominant institution in those days and business in its loan securities used to be transacted towards the close of the 18th century.