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From 12,168 To 7,511 And Back: Mapping The Nifty’s Journey In 2020
A strong rebound: Decoding the Nifty 50’s journey this year.
06 Nov 2020, 10:13 AM IST
The NSE Nifty 50 erased all the pandemic-driven loss of the year to trade positive, led mainly by a surge in pharma and technology stocks, and the index heavyweight Reliance Industries Ltd.
The index closed at 12,224 on Jan. 20, after scaling to a 52-week high of 12,430 intraday. Then the Covid-19 outbreak and subsequent lockdowns triggered fears, roiling global markets. Within two months, the index tumbled 40% from its record high to a 52-week low of 7,511 on March 24.
Since then, the 50-stock index saw a one-way rebound. Even when India was reporting more than 90,000 new Covid-19 cases every day in early September didn't disrupt the recovery.