Mumbai : Nifty 50, the benchmark index of National Stock Exchange (NSE) on Monday (Sept 11) hit the historic 20,000 point mark, marking a nearly 1 percent increase from the previous day’s closing value. Despite global concerns and muted international cues, India’s benchmark stock market indices, including the Nifty 50 and BSE Sensex, have displayed remarkable resilience in recent times.
Nifty took nearly 52 trading seasons to reach from 19000 points to 20000 points. Since the start of April, the Nifty has surged by 17 percent, fuelled by inflows of over $18.9 billion.
Over the past week, both the Nifty 50 and BSE Sensex have surged by more than 2 percent each. This robust performance can be attributed to several factors, including strong domestic macroeconomic indicators, a brief respite observed in August, and consistent investment from domestic institutional investors.
Several High-frequency indicators, such as Goods and Services Tax collections, private capital expenditure, credit growth, and the Purchasing Managers’ Index for August, have all indicated the continued strength of the Indian economy. Despite challenges like high inflation, elevated interest rates, increasing crude oil prices, erratic monsoon patterns, and a global economic slowdown, India’s economy has demonstrated remarkable resilience.