Nifty advanced for the seventh straight day to log the best stretch of gains in 11 weeks and touched the all time high level of 20,000 on Monday (September 11), says Deepak Jasani, Head of Retail Research, HDFC Securities.
At close, Nifty was up 0.89 per cent or 176.4 points at 19996.4. Volumes on the NSE were on the higher side compared to recent average. Midcap index rose more than the Nifty even as the advance decline ratio rose to 1.23:1, he said.
Net investments into actively managed equity schemes in India increased more than 2.65 times month-on-month to Rs 20,245.3 crore in August. SIP contribution to mutual funds industry in August stood at Rs 15,813.5 crore, compared with Rs 15,242.7 crore in July, he said.
For the first time ever, Nifty reached the 20,000 mark as euphoria around India's leadership at the G20 conference trumped concerns resulting from crude at $90 per barrel, says Vaibhav Vidwani, Research Analyst, Bonanza Portfolio.
The majority of sectoral indexes also saw gains, with Nifty PSU Bank and Nifty Metal leading the pack with gains of 3.13 per cent and 1.81 per cent respectively.
SJVN Ltd was amongst one of the top performing stock on Monday, up by 20 per cent, as its subsidiary, SJVN Green Energy's and Bhakra Beas Management Board (BBMB) inked a power purchase agreement for an 18 MW solar power project. The project's land parcels in Punjab and Himachal Pradesh will be developed by BBMB, he said. By August 2024, the project should be put into operation.
Adani Ports, Adani Enterprises, Apollo Hospitals, Axis Bank and Power Grid Corporation, were among the top gainer while losers included Jio Financial, Coal India, ONGC, Bajaj Finance and L&T.
VC funding drops 22.5 pc in China in Jan-Nov as India sees surge
As venture capital (VC) funding surged in India this year, China saw a 22.5 per cent decline in VC funding by both volume and value in the January-November period, a report showed on Thursday.
Indian share market opens in green, Nifty above 23,800
At around 9:37 am, Sensex was trading at 78,744.55 after gaining 271.68 points or 0.35 per cent, while the Nifty was trading at 23,812.50 after gaining 84.85 points or 0.36 per cent.
Indian share market ends in red ahead of key global policy decisions
Ahead of key policy decisions especially from the US Federal Reserve, the Indian stock market closed in red on Tuesday as selling was seen in the PSU bank, auto, IT, financial service, pharma, FMCG, metal, and realty sectors of Nifty.
Buy on dips strategy working well in Indian stock market amid sharp rebound
The surge in the Indian stock market on Friday helped the Indian benchmark indices end the week on a positive note. A strong 2,000-point rebound from the lows suggests that the buy-on-dips strategy is working well in the market, experts said on Saturday.