79 Years of Independence | What the Market Has Built

In 1979 — 33 years after Independence — the BSE Sensex was launched at a base value of 100. Today, 47 years later, the Sensex trades above 78,000 — a return of 78,000 per cent from that starting point, compounding at roughly 16 per cent annually across seven recessions, three wars, four oil crises, a global financial crisis, a pandemic, and this year's West Asia conflict. The Nifty 50, launched in 1996 at 1,000, now trades above 24,000 — a 24x return in 30 years. An investor who put Rs 1 lakh in Nifty 50 in 1996 and did nothing else holds Rs 24 lakh today, before accounting for dividends. With dividends reinvested, the number is significantly higher. The stories within that number are even more powerful. Infosys, listed in 1993 at Rs 95 per share post-split, has created generational wealth for early holders despite its 40 per cent correction this year.

, listed in 1995, has turned every Rs 1 lakh into over Rs 60 lakh. Asian Paints, listed in 1982, has compounded at over 20 per cent annually for four decades. Today, crude near $87, US-Iran tensions and NBFC regulatory uncertainty are the dominant market conversations. They matter — but they are this year's version of concerns that have always existed in every market cycle. The India growth story has survived all of them and created wealth for investors who stayed invested through the noise.