Nifty-50 set for 21k mark by Diwali
image for illustrative purpose
Mumbai: As Nifty-50, India’s favourite stock index, reached a historic and an important milestone of 20,000 mark on Monday, market experts termed
Ashishkumar Chauhan, MD and CEO of National Stock Exchange, said: “Nifty-50’s progress over last 27 years, since it was launched at initial number of 1,000, is a testament to the trust Indian and foreign investors place in India’s capital markets and its regulatory, legal system to provide fair, efficient, transparent, low-cost, always available, orderly market place that is better than the best in the world.”
Rahul Sharma, Director, Head (technical & derivatives research), JM Financial Services, said: “The good thing is there is new leadership from IT, Capital Goods and PSEs. BFSI which remained under pressure is back into positive territory. We are on track to hit 20,432 this month and 21,000 by Diwali.”
More than 7.5 crore direct unique PAN numbers are now registered with the NSE, suggesting that 5 crore households now directly invest a portion of their savings in equities market via the best in class, most automated, highly regulated markets provided by NSE consistently for several decades since its inception. My own feeling is that India has come a long way in last 30 years in its markets participation. We have a longer way to go, he added.
According to Chauhan, “this is a good beginning. There will be ups and downs in the journey going forward - like in the past. India will continue to progress and markets will continue to reflect that progress as seen in Nifty 50 index. NSE will continue to provide fair, efficient, transparent, orderly, low cost, highly automated markets to India in time to come.”
Nilesh Shah, MD, Kotak Mahindra Asset Management Company, says: “Nifty at 20,000 is part of a journey and not a destination. Sitaron se aage jahan aur bhi hai. Where yesterday Sensex was, today Nifty is. Where today Sensex is, tomorrow Nifty will be there for the long-term investors. However in a momentum market, one has to be cautious.”
Sandip Raichura, CEO of Retail Broking and Distribution & Director, Prabhudas Lilladher, said: “While we may keep talking about valuations and liquidity, the fact is that a lot is changing in India and maybe the markets are collectively seeing this golden decade ahead very differently from the cynics.”
