Nithin Kamath says equity investors on Zerodha have realized profit of Rs 50,000 crore over last 4 years – Times of India
Nithin Kamath took posted on X (formerly Twitter) that equity investors on Zerodha have realized a profit of Rs 50,000 crores over the last 4+ years and are sitting on unrealized profits of Rs 1,00,000 crores on an AUM of Rs 4,50,000 crores.He also said that most of the AUM was added in the last four years.
Kamath had previously posted on X about the market expansion following the Covid-19 pandemic, as evidenced, in his opinion, by the increasing assets under management at Zerodha.
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The Indian markets are currently trading near record highs, following the third consecutive victory of the Modi-led NDA government. Although the election results fell short of expectations, the equity markets found solace in the prospect of a stable government and policy continuity.
According to an ET report, technical analysts suggest that the Nifty is currently consolidating after a sharp rally of 2,100 points in the previous week.
Ajit Mishra, SVP of Research at Religare Broking was quoted as saying that the hourly momentum indicator has signaled a negative crossover, indicating a potential slowdown in the market’s upward trend. As a result, the Nifty may experience some consolidation in the short term, with a likely drift towards the 23,160–23,100 range over the next few trading sessions, he said.
Mishra is of the view that If the index fails to hold above these levels, it could potentially lead to a further decline, with the next support level located at 22,930.
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“On the other hand, the immediate resistance zone for the Nifty lies between 23,420 and 23,500. A sustained break above this range could open up the possibility for further gains. Today, the broader market showcased strong performance, with the Mid and Small Cap Index up by 0.81% and 0.55% respectively,” he added.
On Tuesday, the markets remained range-bound and closed unchanged after a flat opening. However, a mixed sectoral trend was observed, with the realty and auto sectors emerging as top performers, while the FMCG, pharma, and banking sectors experienced some profit-taking. The broader indices, including both midcap and smallcap indices, outperformed the market, gaining over half a percent.
