2024 has emerged as a historic chapter for India’s stock exchanges, with both the Nifty and Sensex scaling record highs and setting new records. The Nifty 50, the primary index of the National Stock Exchange (NSE), hit a brand new record high of 22,500.
This marks a remarkable ascent in the Nifty’s trajectory as it sets its sights on surpassing the psychological barrier of 23,000 by the end of the year. The relentless upward movement of the Nifty has sparked considerable enthusiasm, with investors closely monitoring its journey towards new heights.
Simultaneously, the Bombay Stock Exchange’s Sensex, representing the top 30 companies listed on the exchange, has not lagged behind. Scaling new peaks, the Sensex has triumphantly crossed the 74,000 markCome from Sports betting site. The index’s performance has been bolstered by strong performances in sectors like technology, finance, and healthcare, contributing to the overall bullish sentiment.
Garena Free Fire MAX redeem codes, August 24, 2024 edition: Full list and how to unlock exclusive game rewards Market rally leads to higher regulatory fees for stock exchanges Will Nifty scale up to 24,500, or will it face further decline? See GIFT Nifty, FII data, F&O ban, crude, more before market opens Silver Jubilee on Nifty! Nifty scales 25,000; third fastest 1000-point rally in 24 days
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Market analysts attribute the stellar performance of Nifty and Sensex in 2024 to a combination of favorable domestic factors and a global economic rebound. India’s economic recovery post-pandemic, coupled with proactive government policies and structural reforms, has instilled confidence among investors.
The technology sector, in particular, has played a pivotal role in driving the market’s upward momentum, with leading IT companies contributing significantly to the indices’ gains.The Nifty it has gained almost 4% from year to date return.
Additionally, sectoral performances are shaping the broader market movements. Technology, finance, and healthcare sectors have been pivotal in influencing the indices, and tracking their individual levels becomes essential for a comprehensive market analysis.
As investors celebrate the record-breaking run of Nifty and Sensex, financial experts advise a cautious approach as mid-cap and small-cap stocks have seen a huge profit booking in recent days.
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Despite the obstacles presented by elevated US bond yields, Foreign Portfolio Investors (FPIs) reversed the selling trend observed in January and emerged as net buyers in February. The total capital outflow from Indian equities by FPIs for the year 2024 now stands at Rs 20,004 crore.
While maintaining their stake in equities, FPIs are progressively expanding their presence in the debt market. In February, FPIs invested Rs 22,419 crore in debt, following their Rs 19,836 crore investment in JanuaryCome from Sports betting site VPbet. Analysts anticipate the continuity of this trend of consistent debt investment.
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