Round trip to nowhere: Markets break a sweat, but not new ground

Markets moved. Wealth didn't. One year later, it's deja vu for investors

After a roller-coaster year, the markets have ended up where they began. The benchmark Nifty 50 closed July at 24,768 — 183 points, or 0.73 per cent, below its July 2024 close of 24,951.

 

Over the past 12 months, the advance/decline ratio for BSE-listed companies has been evenly split — six months of gains, six of losses. This fine balance between advancing and declining stocks underscores the difficulty investors have faced in locking in consistent returns.

 

As a result, for many who entered the market through direct stocks or mutual funds, the outcome has been underwhelming. 

 

Corporate earnings rose around 7 per cent in 2024–25, with estimates pointing to roughly 12 per cent growth this financial year.

 

Market participants remain on the sidelines, waiting for clearer signals — especially from consumption and credit trends — before making their next move.