Nifty50 has finally hit the 18,000 level. The Sensex was up 280.61 points, or 0.47 percent, at 60,339.67 at 2.06 PM. On the equity markets, the Nifty Bank Index surged over 1% at noon, powered by strong performances by Kotak Mahindra Bank, HDFC Bank, and ICICI Bank. A number of leading indices, including the Midcap Index, are at all-time highs.
On Monday, the benchmark indices surged, led by power, auto, banking, and real estate sectors. At 11:10 a.m., the Nifty was at 18,008.40, up 112.45 points or 0.63 percent. At 60,374.50, the Sensex was up 313.37 points, or 0.52 percent. On October 11, Tata Motors, Coal India, Maruti Suzuki, and NTPC were among the top gainers on the Nifty 50. TCS was among the worst performers on Monday, following the release of its September quarter earnings on October 8.
With support from regular investors and domestic institutions, the Indian stock market enjoyed a fantastic year. The government's continued assistance for the telecom sector, as well as production-linked incentives for auto and auto-part manufacturers, helped to lift the stock market's spirits amid negative global cues. So far in 2021, the Nifty 50 has gained more than 27%.
With Nifty finally hitting the 18000 level, netizens have taken to Twitter to share hilarious memes that show overjoyed Nifty investors, celebrating.
Have a look: