Some positive updates are coming from the Indian stock market where Nifty 50 reportedly surpassed the mark of 20,000 points for the first time since September 2023. Yes, you heard it right, the Nifty 50 gained to an extent to hit a high since September 2023. It was the first time the Nifty 50 index crossed the 20000 mark, assisted by Tech Mahindra, M&M, Reliance Industries, HDFC Bank, and others to lift the market for the second time consecutively. There are many people who always scramble to the internet regarding market updates. In that case, this article is for them. Kindly read this article till the end to fetch all the latest updates on the Indian stock market. Scroll down the page.
The Nifty 50 index crossed the 20,000 mark for the first time assisted by positive global clues and strong gains in index heavyweights. Reportedly, the Nifty 50 index is only 1 percent far from hitting its all-time high which is 20,222.45 recorded on September 15. The Midcap 100 index also hit a record high due to positive global clues. On the same day, the Bombay Stock Exchange hit an all-time high of 67,927.23. For the first time ever all BSE-listed companies’ combined market valuation reportedly reached the $4 trillion milestone. Led by optimism in equities, the market capitalization of BSE-listed companies crossed Rs 333.26 lakh crore or $4 trillion at the exchange rate of 83.31, in morning trade.
So far this year the BSE benchmark Sensex has regained 5,540.52 points or 9.10 percent, and the m-cap (market capitalization) of all listed companies on its platform has soared about Rs 50.81 lakh crore. The other markets valued at more than $4 trillion in market capitalization include China, the US, Hong Kong, and Japan. The chief investment strategist at Geojit Financial Services, V K Vijayakumar advised investors to take cues from the wisdom of the investment legend Charlie Munger who passed away on Tuesday, November 28, 2023. Munger used to say to investors “Don’t be gamblers, be patient investors”
V K Vijayakumar further added, “There is a lot of gambling happening in the market now in low-grade stocks. These should be avoided. Investors should buy quality stocks that are fairly priced, and wait patiently. There is value in large-cap banking, IT, and autos for patient investors. A big move in the market is likely after the state election results are known. Perhaps the exit polls tomorrow evening may provide some clues,” Today at 11:50 am, the Nifty 50 was up 135.90 points showing a gain of 0.68 percent, at 20,025.60.