Billionaire Harsh Goenka uses a baby monkey to explain Nifty's performance and investors' frustration

Known for sharing witty observations on business, life, and current affairs, industrialist Harsh Goenka has once again used humour to capture investor sentiment about Indian stock market. Sharing a clip of a baby monkey on a slide, Goenka captioned it, “State of our Nifty stock index.” In the video, the monkey could be seen climbing the slide but again falling back to the same position.

The 19-second video shows a baby monkey repeatedly attempting to slide up and then slipping when trying to reach the top of the slide. Billionaire Goenka’s comparison struck a chord with market watchers who have been witnessing the benchmark index Nifty move in fits and starts over the last two years, amid global uncertainty.

Without using charts, data, or market jargon, the RPG Group chairman managed to convey a feeling many investors know well — the frustration of waiting for momentum that never quite arrives.

What social media users said

The post from Chairperson of the RPG Group sparked a mix of amusement, frustration and perspective from users online. Several commenters joked that the billionaire seemed to be watching the market's swings.

Others pointed out that volatility has become the norm over the past few years, with global events ranging from geopolitical tensions and trade disputes to AI-driven disruptions repeatedly influencing market sentiment.

Some users argued that heavy taxation and regulatory burdens have dampened investor enthusiasm, making the market feel sluggish despite periods of growth.

A few investors urged people to keep the bigger picture in mind, noting that market cycles, corrections and recoveries are an inevitable part of investing. They recalled witnessing the Sensex climb from much lower levels over the decades while enduring numerous bouts of volatility along the way.

Indian Stock Market

Skepticism toward Indian equities from foreign investors and absence of an artificial-intelligence investment themes have been attributed for lukewarm performance of Nifty at a time when many global markets have scaled new highs. The benchmark indes has remained in the range of 26400 to 22,000 over the last two years as foreign portfolio ownership of companies listed on the NSE has tumbled to a 17-year low amid relentless selling by FIIs.

Surprisingly, the lacklustre performance of Indian stock markets have come at a time when India’s economic growth rate has been one of the highest globally.

Despite the lacklustre returns for investors from Indian equities some experts say that Nifty trades at significant premium than its emerging market peers.