In Charts: Nifty 50’s Journey To 10,000
Nifty Hits 10,000 For The First Time In History
India’s NSE Nifty 50 Index crossed the 10,000-mark for the first time ever on Tuesday.
The equity benchmark climbed 0.4 percent to 10,011 in opening trade, led by gains in Bharti Infratel Ltd. and Indiabulls Housing Finance Ltd. on better-than-expected earnings.
Nifty has taken 92 trading sessions to scale 10,000-mark after hitting the 9,000 level on March 14. In terms of absolute returns, the Nifty gained 9.7 percent while the Sensex gained 9.5 percent during the same period.
The gain has been even better when measured in dollar terms. The Nifty gained 12.8 percent, while the Sensex is up 12.6 percent in dollar terms.
The higher dollar return has worked well for the foreign investors, indicated by the robust inflows into the local stock market. Since March 14, Indian equities have attracted net foreign fund inflows to the tune of Rs 37,951 crore, whereas domestic institutions have pumped Rs 22,302 crore.
The banking industry once again were at the forefront with the HDFC twins adding over 1,300 points. On the flipside, automakers led by Hero MotoCorp and Tata Motors were the key laggards.
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