Showing posts with label "Milestones of Nifty". Show all posts
Showing posts with label "Milestones of Nifty". Show all posts

Tuesday, 25 July 2017

Nifty hits 10,000-mark for first time ever – Here's the journey

New Delhi: The NSE Nifty rose to a record high on Tuesday by crossing the 10,000 mark for the first time ever.

The Nifty 50 is a diversified 50 stock index accounting for 12 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds.

After almost a three-years hiatus, Nifty touched 7,000 mark for the first time in May 2014  as optimism increased in favour of BJP winning majority in Lok Sabha elections.

In September, the same year Nifty crossed the 8,000 mark with market anticipating that Prime Minister Narendra Modi will push through further economic reforms.

Nifty crossed the 9,000 mark for the first time in March 2015.

The market sentiment driven by the country's biggest tax reform till date -- the Goods and Services Tax -- which came into force from July 1, good monsoon and hopes of of intact economic growth, RBI seen cutting rates and recovery in earnings recovery are believed to have pushed the index higher to 10,000 mark on July 2017.

Source:-Zeenews
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