Investors score more in PM Modi's rule than under Vajpayee's govt

A key factor that drove markets higher under PM Modi's regime has been flows - both domestic and foreign - into the equity markets

The markets have performed better under the National Democratic Alliance’s (NDA’s) Narendra Modi, as compared to Atal Bihari Vajpayee’s tenure as India’s Prime Minister (PM). 

The Nifty 50 index (Nifty as it was known then), notched up a gain of 5.7 per cent, while the Sensex lost one per cent on an absolute basis between October 13, 1999, when Vajpaee assumed charge as the PM, and May 19, 2004, when he left office, data shows.

Both these indices have surged a whopping 47 per cent and 45 per cent, respectively, under PM Modi – hugely outperforming the rally seen during