After reaching the remarkable milestone of 25,000 on August 1, the Nifty 50 experienced a one percent decline on August 2, as investors engaged in profit booking following a robust 650-point surge over the past month amid a broader market selloff. However, the rapid ascent to this new high reflects the shortest 5,000-point rally in the index's history, underscoring the Nifty 50's remarkable growth momentum.
The Nifty 50's journey to 25,000 from 20,000 took just 221 sessions or less than 11 months, marking the shortest 5,000-point rally for the index. Previously, the index reached the 20,000 mark on September 11, 2023, highlighting an impressive pace of growth compared to past milestones.
In contrast, the previous 5,000-point rally from 15,000 to 20,000 took over two and a half years, with the 15,000 mark reached on February 8, 2021. Before that, the Nifty 50's journey from 10,000 to 15,000 spanned over three and a half years, with the index hitting the 10,000 mark on July 26, 2017. Notably, the climb from 5,000 to 10,000 took almost ten years, with the index reaching 5,000 on September 27, 2007.
The Nifty 50's initial ascent to 5,000 was a lengthy journey of nearly 12 years, following its inception in November 1995 with a base value of 1,000. In total, the Nifty 50 took nearly 28 years and eight months to progress from 1,000 to 25,000, showcasing a remarkable long-term growth trajectory.
Overall, the Nifty 50 has experienced a notable rise of nearly 14 percent year-to-date in 2024 and has increased by 26.6 percent over the past year. Over the longer term, spanning three years, the benchmark index has delivered impressive returns of 55.7 percent.
Despite today's downturn, market experts remain optimistic about the continued positive momentum in the Indian market. Analysts believe that strong macroeconomic fundamentals, India's robust global position, and consistent corporate earnings will sustain the upward trajectory. These factors are expected to support further growth and stability, even amid temporary setbacks like today's market dip.
Market experts advise investors to focus on the long-term potential of Indian equities, emphasising the resilience of the domestic economy and its ability to withstand short-term fluctuations.
Despite the recent market correction, the Nifty 50's rapid rise to 25,000 highlights the index's strong growth momentum and resilience. This historic rally reflects India's robust economic fundamentals and growing global standing, fueling optimism for continued market strength in the long term.
Catch all the Business News , Market News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess