The NSE (National Stock Exchange) celebrated a historic milestone as the Nifty 50 index reached the significant 20,000 mark in trading for the first time ever. This achievement marked a noteworthy moment in the exchange's history, reflecting the resilience and positive momentum in the stock market.
The Nifty 50 achieved a historic milestone on Monday by breaking its previous record and reaching the 20,000 mark for the very first time.
Nifty hit its new record high in 36 sessions as it took a total of 52 sessions to climb from 19,000 to 20,000.
The index was expected to hit the 20,000 mark in July itself but it fell short of just eight points at a record high of 19,992.
Despite a mixture of global cues, the index end the day on a positive note for the seventh consecutive session, recording a 176-point gain, reaching a level of 19,996. The broader market also achieved new highs, with the Midcap100 and Smallcap100 indices surging by 1.1 percent and 1.3 percent, respectively.
The Indian stock market demonstrated resilience by surpassing global challenges and muted international indicators. It outperformed its foreign counterparts as investor interest surged, driven by significant developments during the G20 Summit held under India's presidency. These developments included the rail-port economic corridor connecting India, the Middle East, and Europe, as well as the inauguration of the Global Biofuel Alliance.