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Nifty finishes Samvat 2080 with 25% gain, most in 3 yrs
Business Standard
|November 01, 2024
The Nifty 50 index has demonstrated resilience, closing Samvat 2080 with a nearly 25 per cent gain despite an 8 per cent pullback from its peak.
This performance marks one of the best years for the index since the post-Covid surge in Samvat 2077, when it soared by 38 per cent.
These gains reflect investor confidence and the market's ability to recover from fluctuations, showcasing the overall strength of bluechip stocks in the current economic landscape.
This year's rally in the Nifty 50 follows a period of modest returns in the previous two Samvat years, with gains of 10.5 per cent and 9.4 per cent in Samvat 2079 and 2078, respectively.
The robust performance in Samvat 2080 has been broad-based, with the Nifty Midcap 100 and Nifty Smallcap 100 indices each gaining over 37 per cent.
Nifty ended Thursday's session at 24,205, a decline of 136 points.
Meanwhile, the BSE Sensex tumbled 553 points, or 0.69 per cent, to settle at 79,389.06.
This story is from the November 01, 2024 edition of Business Standard.
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