The Maharashtra Legislative Assembly elections have consistently influenced market movements, with indices like Nifty 50 and Sensex reflecting broader economic and investor sentiment over time. Here’s a detailed breakdown of their performance over the last four election cycles, spanning two decades.
2004 to 2009: A period of exceptional growth
Nifty 50 Yield: 165.43%
Sensex Yield: 197.04%
Between October 13, 2004, and October 13, 2009, both Nifty and Sensex witnessed extraordinary growth. Nifty yielded a remarkable 165.43%, while Sensex surged by 197.04%.
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This period was marked by rapid economic expansion, a surge in foreign institutional investments, and India’s integration into the global economy, driving significant market optimism.
2009 to 2014: Moderate growth amid global challenges
Nifty 50 Yield: 53%
Sensex Yield: 59.75%
From October 13, 2009, to October 15, 2014, the pace of growth moderated. Nifty gained 53%, and Sensex climbed by 59.75%. This period was shaped by recovery from the global financial crisis of 2008, which tempered growth momentum.
While the markets remained volatile due to concerns over inflation and fiscal deficits, domestic demand and policy measures provided stability.
2014 to 2019: Reform-driven market momentum
Nifty 50 Yield: 45.31%
Sensex Yield: 45.44%
The years between October 15, 2014, and October 21, 2019, reflected steady but slower growth, with Nifty and Sensex delivering yields of 45.31% and 45.44%, respectively.
The market benefited from reform-oriented governance, with major policy initiatives such as the Goods and Services Tax (GST), demonetization, and structural improvements to the business environment. However, the potential for higher growth was limited by global trade tensions and domestic economic challenges.
2019 to 2024: A Resilient Recovery Amid Uncertainty
Nifty 50 Yield: 119.85%
Sensex Yield: 93.62%
The period from October 21, 2019, to November 20, 2024, showcased a remarkable recovery despite challenges like the Covid-19 and geopolitical uncertainties. Nifty soared by 119.85%, and Sensex rose by 93.62%, reflecting a resilient and adaptable market.
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The recovery was fueled by government stimulus,
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