this year The domestic stock market is witnessing a tremendous boom since the beginning of 2024. From January 2024 to September 24, 2024, Nifty 50 has so far registered a gain of 4209 points i.e. 19.36 percent. On December 29, 2023, the Nifty closed at 21,731.40 points, which closed at 25,940.40 points today.
Last year, a growth of 19.42 percent was recorded in the last 12 months
The special thing is that in the previous year i.e. in the year 2023, a total increase of 19.42 percent was registered in Nifty 50. That is, the amount of growth that Nifty 50 had in the 12 months of last year, has come in just 9 months of this year, while there are still a few days left for the 9 months to end.
What is the reason behind the boom in Indian market
Experts believe that despite high valuations at the global level, investors remain interested in Indian stocks, due to the country's strong economic growth potential. India's economy is growing at a better pace than the rest of the countries, with GDP projected to grow at a rate of 7.2 percent in FY 2025.
Billions of rupees are being invested in the Indian market
This is why foreign portfolio investors (FPIs), domestic institutional investors (DIIs) and retail investors are continuously investing billions of dollars in Indian equities, helping the market maintain record levels. FPI flows have recently increased after the US Federal Reserve cut interest rates.
Along with Nifty 50, Sensex also touched lifetime high
Image Credit: India-Tv.