Nifty 50 touches 20000 mark for the first time

Published : 11 September 2023

The local index NSE Nifty 50 rocketed to a historic 20,000 record in today's trading session in a stunning demonstration of market power.

The path taken by the Nifty to reach 20,000 was a result of earlier market dynamics.  The revived IT and banking sectors served as the catalyst for this rise, which was supported by strong corporate earnings, encouraging global cues, and size-able foreign institutional investments.

The index has increased by more than 16% over the past six months, while the Nifty 50 has increased by over 2.5% in the most recent month.  The benchmark has increased 19.4% from its 52-week low of 16,747.70 to reach 20,000 in 75 days.

The G20's resounding success creates the required momentum, although market values have not yet surpassed past high.  An increase in bilateral trade should help a variety of industries, including pipes and cables. A direct benefit of recent statements would be industries like railroads, shipping, and logistics.