Nifty: 18K to 18K: India m-cap surges Rs 13 lakh crore – Blue Barrows

The Nifty has reclaimed the psychologically crucial 18,000- mark after 111 trading sessions. During this period, India’s market capitalisation expanded by nearly Rs 13 lakh crore.

When the Nifty achieved 18,000 on April 4, sentiment was still brittle with foreign funds pulling money out of India. Over the next two months, the Nifty plunged almost 16% to a 52-week low of 15,183.4 on June 17.

From there, the index has rebounded almost 18.6% to cross 18,000 on Tuesday, thanks to overseas flows. Foreign portfolio investors have pumped in Rs 66,300 crore since July 1.

m-cap

A few Nifty underperformers of the previous rally, such as M&M, , , , and , are the top gainers in the current rally. Similarly, IT and metal stocks which gained the most in the previous rally, are among the top losers this time.