Nifty50 makes its fastest 1,000-point run ever. Here's how it has gained pace over years

SUMMARY

Nifty has taken less than 20 sessions to reach the 17,000 level after hitting 16,000 for the first time ever. It was on August 3, 2021 that the 50-scrip benchmark surpassed the 16,000 mark in intraday trade, bringing cheers to the bulls, as investors bet on a faster economic recovery from the ravages of the second wave of coronavirus infections. The index's breakout above the much-awaited 17,000 hurdle hours before the release of official data on India's GDP. What's in store for the Nifty now? Here's a look at the Nifty's 1,000-point journeys in the recent past.

By CNBCTV18.comAug 31, 2021 3:16:27 PM IST (Published)

On August 31, 2021, Nifty50 touched the 17,000 mark for the first time ever, taking its year-to-date gain to 22 percent. Hopes of recovery and optimism on vaccine drives around the globe and back home have propelled the index's northbound journey during this period. After August 3, 2021, when the barometer surpassed the 16,000 mark for the very first time, it took the index only 18 more sessions to reach the next 1,000-point milestone.

It took the index more than 135 days to reach 16,000 after hitting 15,000 for the first time in February.

Its journey from 14k to 15k was also quite aggressive. Just like the latest 1,000-point run, the journey from 14,000 to 15,000 took the index 22 sessions, from December 31, 2020 to February 2, 2021.

It took the Indian equity benchmark 25 days after November 24, 2020 — when it touched 13,000 for the first time — to reach the 14,000 mark.

Its journey from 12,000 to 13,000, however, was not so short, at least compared to the recent times. It took Nifty50 more than a year to hit 13,000 after scaling the 12,000 peak in intraday trade, which was on May 23, 2019.

Nifty touched the 11,000 mark for the very first time on January 23, 2018, only to successfully cover a 1,000-point distance on May 23, 2019.

Nifty first entered into five digits on July 25, 2017. And it took the bulls almost six months to pull the index by 1,000 points from there (the index hit the 11,000 mark first on January 23, 2018).