India has one of the fastest growing stock market. However it seems that research of India stock market is woefully deficient. This paper develops the investment based on Markowitz’s Portfolio Selection Theory using India historical stock return data.  The entire experiment period holds nine years starting from the opening day in 2006 to the 2014 closing day. The research benchmarks Indian SENSEX of BSE (Bombay Stock Exchange). This process made comparison analysis of rate of SENSEX change, and rate of portfolio return. The investment category was chosen by top 30 on SENSEX market as of June 6, 2015, except in the case of five categories which lacks data. The portfolio was composed of eight weeks of investment period and eight weeks of rebalancing cycle. At this time the result displayed that rebalancing cycle influences the rate of return. four weeks of rebalancing cycle performed outstanding return other than the eight and twelve weeks and rate of changes in SENSEX. In addition, this paper compares return on risk rate, also known as Sharpe ratio which measures portfolio performance.