Indian equities are off to best start to a financial year since Modi win

Indian equities are off to the best start to a financial year since 2014-15, when Narendra Modi-led National Democratic Alliance (NDA) government came to power. So far this fiscal year, the benchmark Sensex has gained 16.3 per cent, thanks to sharp gains in key stocks. In comparison, the index for the performance of 30 blue-chip stocks had gone up 19 per cent during the first five months of 2014-15. The benchmark indices are currently hovering around their lifetime highs. Also, India is already among the best-performing markets globally this fiscal year.

Index heavyweight stocks, such as Reliance Industries, Tata Consultancy Services,