It was a historic milestone for Indian economy to reach when the Nifty index hit an all-time high of 21,006.10. Reflecting the robust health of Indian stock market with sustained interest from FII and more importantly increased interest from domestic retail investors, the Nifty Index crossed the 21000 benchmark for the first time.
Nifty ended at 20,901.15 on December 7 and rose as much as 105 points in intra-day deals. Nifty reached the 20000 mark September 11, this year, barely three months ago.
Started in November 1995, with a base value of 1000, the index Nifty 50 took 27 years to touch 20,000. It took 9 years, 1 month and 10 days to reach it’s first 1000 milestone from 1000 to 20000 in 2004. Thereafter, almost every year, the index added 1000 point till it reached 5000 in 2007. While to reach from 5000 to 6000, Nifty took only two months, it took 6 and half years to reach further 1000 to 7000 in 2014.
The 8,000 mark was attained in 2014. The 10000 milestone was touchesd in 4 months from preceding one, the the 9000 mark in 2017. Nifty hit 15000 in 2021 and 20000 in 2023. From base to 10000 mark took 22 years whereas the next 10000 leading to 20000 mark was achieved in around 6 years.
The NIFTY 50 index voyage had been capturing the India moment, strengthened by the political stability and strong fundamentals important for economic growth. The current rise followed the the Reserve Bank of India (RBI)’s decision to kept the repo rate unchanged at 6.5 percent and raising the FY24 GDP forecast to 7 percent from 6.5 percent earlier.
The Nifty 50 index created immense value for the investors over the years. It delivered greater than 30 percent returns in 7 calendar years and astonishing greater than 50 percent in 3 calendar years.
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