Nifty hits all-time high, crosses 20,000 points
By Team Newsable | First Published Sep 11, 2023, 4:17 PM ISTThe benchmark Nifty 50 has crossed the 20,000 mark for the first time amid a strong rally, fuelled by strong fund inflows and macroeconomic indicators.
Equity benchmark indices started the new week on an upbeat note with the NSE Nifty surging to a historic high breaching the 20,000 mark for the first time. The BSE Sensex also jumped 528.17 points to cross the 67,000 mark again. This was made possible by consistent purchasing from foreign portfolio investors (FPIs) and inflows from retail investors.
The S&P BSE Sensex was up more than 557 points to 67,156 at 3:28 p.m., and the Nifty 50 was up 185.45 points to 20,005.40. Even while the Nifty 50 closed at a fresh record, it dropped barely shy of 20,000.
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The Indian economy grew 7.8 per cent in the April-June quarter and is seeing growing at close to 6.5 per cent in the current financial year, putting it among the best performing major economies in the world and drawing investors.
This achievement comes after a period of anticipation and market volatility that saw the index miss out on the milestone by a whisker in July. Back in July, the Nifty 50 was on a sharp ascent, reaching record highs and showing a growth of 15% from March 2023.
The Nifty 50 and the BSE Sensex have risen more than 10 per cent each so far this year and last hit their all-time highs on July 20.
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