Nithin Kamath posted on X (formerly Twitter) that Zerodha equity investors have made Rs 50,000 crore in profits in the last 4+ years and are sitting on unrealized profits of Rs 1,00,000 crore on an AUM of Rs 4,50,000 crore.He also said that most of the AUM has been added in the last four years.
Kamath had previously posted on X about the market expanding post the Covid-19 pandemic, as, in his view, evident from the rising assets under management at Zerodha.
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Indian markets are currently trading at record highs after the Modi-led NDA government won its third consecutive election. Although the election results fell short of expectations, equity markets were comforted by the prospect of a stable government and policy continuity.
According to an ET report, technical analysts suggest that Nifty is currently consolidating after a sharp rally of 2,100 points last week.
Ajit Mishra, Senior Vice President, Research, Religare Broking, said the hourly momentum indicator has indicated a negative crossover, indicating a possible slowdown in the market's upward trend. As a result, the Nifty may experience some consolidation in the short term, and head towards the 23,160-23,100 range over the next few trading sessions, he added.
Mishra believes that if the index fails to sustain above these levels, it could potentially lead to further decline, with the next support level being at 22,930.
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He added, “On the other hand, the immediate resistance zone for Nifty is between 23,420 and 23,500. A sustained close above this range could open up the possibility for further gains. Today, the broader market performed strongly, with the mid and small cap indices up 0.81% and 0.55%, respectively.”
Markets on Tuesday remained range bound and closed unchanged after a flat opening. However, mixed sectoral trends were witnessed, with realty and auto sectors emerging as top performers, while FMCG, pharma and banking sectors witnessed some profit booking. Broader indices, including both midcap and smallcap indices, outperformed the market, gaining over half a percent.