On Thursday, the Nifty 50 index reached the historic 25,000 mark. This achievement marks the third-fastest 1,000-point rally in the index’s history. The record for the fastest 1,000-point surge remains a climb from 16,000 to 17,000, achieved in just 19 trading sessions in August 2021.
Which Was the Second-Fastest Rally on Nifty ?
The second-fastest 1,000-point rally for the Nifty occurred between 23,000 and 24,000, completed in 23 trading sessions. The index first crossed the 24,000 mark on June 27 this year. The latest 1,000-point rally to 25,000 took 24 trading sessions.
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What was the Recent Trend ahead of Nifty Reaching 25,000 mark?
Earlier in the week, the Nifty made a record high of 24,999.8 on Monday before a sharp sell-off in index heavyweights brought it down. A similar pattern occurred on Tuesday when the Nifty reversed from an intraday high of 24,971 to end the day flat. On Wednesday, the Nifty reached a high of 24,984 before closing at 24,950.
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Who Are The Key Contributors and Laggards?
Since hitting a low of 21,281 on June 4, the Nifty has climbed nearly 4,000 points. Infosys, HCLTech, and ITC were significant contributors to this recent 1,000-point rally. During this period, ONGC and life insurance companies like HDFC Life and SBI Life emerged as the top gainers on the index.
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In contrast, banking stocks have underperformed during the Nifty’s latest 1,000-point journey. The Nifty Bank index also lagged, with three out of the top five underperforming stocks in the last month being banking and financial names, including IndusInd Bank, Axis Bank, and HDFC Bank.
How Much Session did Nifty Take to Reach 25,000 from 20,000?
The Nifty first reached the 20,000 mark on September 11, 2023. Over the subsequent 10 months, the index added another 5,000 points, with 45 out of the 50 constituents delivering positive returns. Auto and Oil and Gas stocks have been the top gainers over this period.
