Even as the Nifty50 index achieved a significant milestone on Monday, the beginning of the trading week, market experts are still much buoyant about its rally further ahead.

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On September 11, the index touched the 20,000 mark after 52 trading sessions following its attainment of the 19,000 mark. This remarkable performance represents a doubling of the index's value over the span of six years, having initially crossed the 10,000 mark on July 25, 2017.

The latest upward movement on Monday has contributed to the Nifty 50's year-to-date gain of 10.5 percent. Remarkably, the index has consistently delivered positive annual returns, even during the challenging years of the Covid-19 pandemic, since the modest 4 percent decline it experienced in 2015.

Sharing important insights on the current market trends and the outlook for the Nifty index in an interview with CNBC-TV18, Atul Suri, CEO of Marathon Trends-Portfolio Management Services, said that there is ample room for Nifty to continue its upward trajectory.

He began by asserting his confidence in the Nifty index, stating that there is "No reason why Nifty can't have another 8-10 percent rally."

Moreover, Suri emphasised that he still sees "More upside going ahead." This perspective reflects his anticipation of further positive movements in the market, backed by factors that are conducive to sustained growth.

“There is a lot of panic, there is a lot of talk of bubble, but I do not think we are anywhere near bubble territory,” he said.

Suri's bullish outlook on the Nifty index is grounded in his analysis of current market conditions and trends and it's clear that he remains optimistic about the market's performance.

For more details, watch the accompanying video

Also, catch all the live updates on markets with CNBC-TV18.com's blog

(Edited by : C H Unnikrishnan)

First Published:Sept 12, 2023 12:44 PM IST