Nifty crosses 20,000 mark today and setting new records

The Nifty 50, the premier index of the National Stock Exchange, just passed the 20,000 mark, setting new records in the process thanks to a strong surge in heavyweight stocks, positive capital inflows, and solid macroeconomic data.

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Nifty 50 was up 185.45 points to 20,005.40 at about 3:30 in the afternoon. Additionally rising by over 557 points to 67,156, the S&P BSE Sensex.

This accomplishment follows a period of expectation and market turbulence during which the index narrowly missed reaching the milestone in July. Back in July, the Nifty 50 was on a sharp ascent, reaching record highs and showing a growth of 15% since March 2023.

Market sentiment at the time expected Nifty to break records by rising above 19,900–20,000, but it fell short, only rising 1% to below 19,800. As global cues deteriorated, it fell even further as Dalal Street lost momentum.

But the market's momentum has changed significantly since last week. Sensex and Nifty have both increased significantly. Both indices were just 1% away from setting new records as of today's early trade.

This sharp increase in performance is attributable to a number of variables, such as strengthening global cues, a robust rally in heavyweight equities, and improved sentiment following the success of the G20 and several other developments.

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