23/05/2024
The Nifty index reached a new all time high of 22,993 ๐ฅ
The Nifty 50 closed at 22,967.65 on May 23, 2024, marginally short of its all-time high of 22,993.60.
This upward trajectory suggests the Nifty 50 may reach new heights soon
What Caused Nifty to Skyrocket to New Highs? ๐๐
Possibly due to these 3 reasons
โฆ๏ธ1 - Investors seem more confident about the stability of the government. Also our PM and home minister statements -" market will see new high after 4 June " might be the reason
The Nifty hitting a new record is the marketโs message of political stability after the elections. The rally is healthy since it is led by fairly valued large-caps," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
โฆ๏ธ2- RBI Showering Cash : The market sentiment appears to have got a boost after the Reserve Bank of India (RBI) announced a record โน2.11 lakh crore dividend to the Centre for FY24.This indicates a better fiscal position
โฆ๏ธ3- Strong banking performances: Recent strong financial results from major banks have instilled confidence in the banking sector. Banking giants like HDFC, ICICI, and Axis Bank led the surge in both Sensex and Nifty.
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Kamal Kant wealth craft
Wealth craft Kamal kant
Mutual fund advisor | gurugram | gurgao