By Anindita Chatterjee reporting from India
Nifty-50 hit 17,000 for the first time on 31st August 2021 as it made it’s fastest ever 1,000 points gain from the 16,000 level. On 3rd August, Nifty traded at 16,000, its all-time high and over the following 28 days investors saw continuous rallies in the Nifty and Sensex to reach 17,000 and 57,800 respectively.
The hopes for economic recovery from the pandemic is creating optimism in Indian markets. India’s economy grew 20.1% in the second quarter, despite a second wave of coronavirus.
In addition, Demat (Dematerialised) accounts are being opened at a record rate in India which is a factor fuelling the drive higher in stocks.
Dematerialised are required for investors in India to hold securities such as shares and bonds.
Several stockbrokers and investor platform’s have made the stock market more accessible to Indian retail investors. This led to the opening of a huge number of accounts and these new investors are thought to be igniting the start of a new era in the Indian stock markets.
Indian markets have been rising during the pandemic, bringing a sense of confidence among Indian investors building momentum across India’s major indices.
The journey of Nifty 50: From 8000 to 17000
As covid-19 hit the Indian markets, Nifty crashed to 8,083 on 3rd April 2020. On this day, IndusInd Bank and Kotak Bank were the top losers dragging down the market to lower levels. The following are the highs and lows of the NIFTY 50 during the crash.
| 11,433.00- High | 7,511.10- Low |
April FY20
Market sentiment have remained week for a long time since the pandemic started. It has been observed that 50% of Nifty 50’s stocks were traded in red. Nifty 50 rebounded back to green during mid-April of FY20. It started trading at the levels of 9000-9500 from April- June FY-20. Nifty formed a bearish candle on daily charts which made investors re-think their positioning in the Nifty 50 stocks.
On 5th June FY20, Nifty hit the levels of 10,000 and created a ray of hope for the investors to make a re-entry in the market. On this day, metal stocks shined their way through the market to take it back into the normal trading levels. As the market settled with minimum positivity, the highs and lows also increased for a better view towards the market:
| 10,553.15- High | 9,544.35- Low |
June FY20
On 24th July 2020, Nifty hit the levels of 11,000 and was ready to create a new leg up. Earlier before the pandemic started, the NIFTY 50 traded at the levels of 11000-12000.
Nifty 50 took 5 months to reach the levels of 12000 in November 2021. The rally began when Nifty hit the 13,000 level in December. The dream run of the domestic companies resulted in improved earnings and macro-data settlement which also generated a high GST collection. As the year ended by Nifty hitting 14,000 levels for the first time ever, December 2020 was considered as the decisive month for the investors.
| 13,145.85 High | 11,557.40 Low |
November FY20
The levels of 14,000 traded at par for a while in the market and were broke by a new record of 15,000 during February 2021. Over the months in 2021, Nifty 50 performed well and remained stable till July 2021. During this period, IndusInd bank, Kotak Bank, IT sectors (Infosys, Wipro, TCS), Bajaj FinServ were some of heaviest traded shares.
| 15,431.75 High | 13,661.75 Low |
February FY21
On 3rd August 2021 Nifty hits 16,000 and achieved the status of lifetime high gains. The past month remained positive for the Nifty stocks and involved high volume trading. The gains in the Index were added by consumer and IT stocks.
| 17,153.50 High | 15,834.65 Low |
August FY21
As soon as Investors digested the breach of 16000, Nifty added 1000 points in a record-breaking manner by the month-end. On 31st August FY21, Nifty hits 17,000 and sustained its levels on the next day too.
Top gainers with the win included Nifty PSU Bank, Nifty Metal and Nifty Healthcare index. The gain points were added by Adani Port, Bajaj FinServ, and Bharti Airtelin the Index.
.