The Ship of Theseus Paradox – Nifty 2008 and Nifty 2016

I had recently made a 30 min presentation in the Flame Investment Lab - Alumni Meet at Flame Univesity - Pune this weekend.

The presentation talks about how Nifty and benchmark indices have changed in last 8 years as well as since the inception in 1996 and can the Nifty today be compared to the past.

A pictoral representation of the Paradox would be

Ship of Theseus 1Source Image -

The presentation can be downloaded from here - Would like your comments/suggestions on the same.

It can also be seen on slideshare here

Will be working more on further data points and update the presentation going ahead.


  1. JK
    July 4, 2016

    Lot of discussions happened on this subject. My best guess is we will surely see additions like 2005-2007 (slide 14) in place of matured IT/Pharma sector say after 2019.
    IF that is not happening forget Sensex going to 1,00,000 etc by 2023 :-). If High ROE protects downside it also caps upside.

  2. Bhavesh Shah
    July 5, 2016

    Thanks for sharing such good info about market. Do share more.


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