In the equity market of India, the journey of Nifty 50 has not been any less dramatic than its elder cousin Sensex 30, which often ends up stealing the thunder due to the exuberance of the common man with bigger numbers. On August 1, the popular broad index ended the day with a rise of 59.75 points and settling for the first time over 25,000 – at 25,010.90 points.
Nifty and Sensex
In the past 10 years, the rise of Nifty 50 has been no less dramatic than Sensex which took 121 months to rise from 25,000 to 80,000.
On May 16, 2014, both Nifty 50 and Sensex 30 rose dramatically on the news of the Bharatiya Janata Party sweeping the general elections. Nifty breached the 7,500 mark to touch an intraday high of 7,563.50.
Fastest 1,000, could have been faster
Nifty was launched in November 1995 with a base value of 1,000.
The journey of Nifty 50 from 24,000 to 25,000 is the shortest one in its 28-year-old history. The index crossed 24,000 on June 24.
The 25,000 mark could have been easily breached three days ago but on July 29, it came tantalisingly close and returned after touching 24,999.
The earlier fastest 1,000-point sprint was clocked between 21,000 and 22,000 when it took 26 trading sessions between December 8, 2023 and January 15, 2024.
9 years to rise 1,000
The index took an incredibly long and painful 9 years, 1 month and 10 days to complete its journey from 1,000 to 2,000!!!
It reached 5,000 on September 27, 2007.
10 years to rise from 5K to 10K
Subsequently, it took another 10 years – yes you read it right – to rise by another 5,000 points and reach 10,000. It touched that landmark on July 27, 2017.
The rise has been meteoric since then – the index climbed the last 15,000 points in 7 years, while it took 22 years to travel between 1,000 and 10,000.
The psychologically important marks of 15,000 and 20,000 were breached on February 8, 2021 and September 11, 2023 respectively.
According to reports, in 2023, the index set record highs on as many as 23 occasions.
This year the index has already surpassed target expectations of many analysts for December 2024.
Compared to Sensex 30, Nifty 50 is a broader index that comprises 24 sectors against 13 covered by the Sensex. It took the shortest time to traverse the 1,000-point path between 24K and 25K in its 28-year-old history. Biz News Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
