look news india
Nifty, one of the benchmark indices of the Indian stock market, crossed the 23,000 level for the first time on Friday and reached the level of 23,026 in intraday. With this, a new milestone has been created in the journey of Nifty. However, at the end of the day it closed 43 points below 23,000 points. It took more than 130 days or four months for the Nifty to reach the level of 23,000 from the level of 22,000 and a total of 88 stock market sessions were held during this period. Earlier, the longest jump of 1,000 points was made by the index when it traveled from 18,000 to 19,000. On June 28, 2023, Nifty touched the highest level of 19,011, it took 20 months for the Nifty to register a rise of one thousand points, during which a total of 425 sessions were held.
Nifty ended the trading session at the low of 16,000-17,000 with a jump of one thousand points. After crossing the 16,000 level on 3 August 2019, Nifty also crossed the 17,000 level on 31 August the same month. Thus, it took only 23 days for Nifty to make this jump of one thousand points and only 19 sessions were held during this period.
Nifty has registered a total gain of 6 per cent so far in 2024. The current boom in the market is mainly due to significant investments by domestic funds i.e. domestic institutional investors (DIIs). At present, there is heavy selling by foreign funds i.e. FIIs, while due to continuous investment by retail investors in SIP, there is continuous net buying by DIIs. Due to which the market remains strong despite the outflow of FIIs. Apart from this, the market sentiment is strong even after the signs of the return of the government led by Prime Minister Narendra Modi to power.
