Nifty rises above 21,000 for the first time ever

Due to the strong macroeconomic environment and resilient performances by banks, the Nifty 50 has surged to an all-time high of 21,000. 

The Nifty 50 index's recent journey from 19,000 to 20,000 unfolded over 52 trading sessions, however, this new high could have been achieved in just 15 sessions. Since the closing of November 24, the Nifty 50 has shown strong momentum, surging over 1,300 points in seven consecutive trading sessions. This impressive run mirrors a similar seven-session winning streak observed back in September.

Notably, the Nifty 50 has recorded a substantial 6 per cent gain over the last nine trading sessions, with 49 out of its 50 constituents experiencing positive growth during this period. Among the standout performers in the recent surge are the Adani twins—Adani Enterprises and Adani Ports, securing top positions on the Nifty.

Public sector undertakings (PSUs) have also made their mark among the top 10 gainers on the Nifty 50 since November 28, with BPCL, NTPC, Power Grid, and SBI contributing to the market's upward trajectory.

However, Divis Laboratories stands out as the sole underperforming stock over the last six trading sessions, providing a nuanced perspective on the diverse movements within the index.

Examining individual contributions, HDFC Bank emerges as a frontrunner among point contributors, marking a positive turn for India's largest private lender for the year. Banking names dominate the list of top five point contributors over the last six trading sessions, underlining the sector's notable impact on the Nifty 50's recent success.