Nifty 50: The unstoppable India story

IT TOOK ALMOST 22 YEARS FOR NIFTY TO REACH THE 10,000 MARK, BUT IT STARTED TO GALLOP POST-2017, TAKING JUST OVER SIX YEARS TO ADD ANOTHER 10,000 POINTS

- Ashishkumar Chauhan

When the Nifty 50, India’s favourite stock market index pushed past the 20,000 mark on 11 September – it would close a few points below – it was more than a numerical record achieved by the flagship index of the capital markets. It was the first time the benchmark index of the National Stock Exchange (NSE), had crossed 20,000, enough cause for celebration. On Wednesday, September 13, the index closed above 20,000 for the first time in its history.

The rise and rise of India as a global economic powerhouse is reflected in some simple yet powerful numbers – including the Nifty. Consider Nifty’s progress over the last 27 years. The benchmark index was launched in November 1995 with a base value of 1,000. It took almost 22 years to reach the 10,000 mark, but the index started to gallop post-2017, taking just over six years to add another 10,000 points.

This narrative is even more compelling if one were to account for the fact that this period encompasses a post-pandemic downturn in economies around the world.

India, however, weathered the storm and while many economies continue to struggle, its robust economic growth is expected to continue well into the next decade.