Nifty 50 Crosses 18,000 For The First Time: In Charts
India’s Nifty 50 surpassed 18,000 for the first time, undeterred by taper concerns, as Covid-19 vaccination picks up, curbs on business activities ease and government continues with reforms to aid the economy.
The benchmark rose to a record 18,041.95 in morning trade on Monday and closed at 17,945.95. The 50-stock benchmark took 28 sessions to rally from 17,000 to 18,000. The rate of advance was less rapid than the time taken to cross the last 1,000-point milestone.
The nation’s measures to ease the telecom sector stress, production-linked incentives for auto and auto-parts makers and drone industries, among others, too, lifted sentiment amid weak global cues such as the risk of a contagion arising from the cash crunch at China’s Evergrande group.
The Nifty 50 has gained more than 27% so far in 2021. That’s the best first nine months since 2017, when the gauge rallied 28.65%.
Sector-wise, the media and realty indexes led the pack in the Nifty 50’s latest 1,000-point rally. All the sectoral indices advanced since Aug. 31.