Milestone momentas Nifty 50 touches 20,000

Investors gained ₹3.37 lakh crore in wealth on Monday as the National Stock Exchange's (NSE) Nifty 50 index breached the psychologically significant 20,000 mark before ending trading slightly lower.

- Ram Sahgal

The index ended at a record 19,996.35, surpassing its previous high of 19,991.85, made 36 sessions earlier amid persistent institutional flows. The Sensex, however, ended 432 points below its record high of 67,619.17 hit on 20 July.

The success of the G20 summit, which envisaged the creation of an economic corridor linking Europe and the Middle East with India, drove up Adani Ports and flagship Adani Enterprises by 7% and 4% each, making them the top Nifty gainers. The Nifty soared to an intraday high of 20,008.15 before ending the session at 19,996.35, the highest closing to date.

The Nifty completed its latest continued on 1,000-point journey from 19,000 to 20,000 in 52 sessions.

The gains have been built on solid foreign portfolio investor (FPI) and domestic institutional investor (DII) flows. FPIS have net invested 1.57 lakh crore so far this fiscal year (FY24), while DIIS, including mutual funds, have purchased shares worth 32,555 crore, with almost four-fifths invested in the last month alone.