Benchmark index of Indian stock market Nifty50 closed at 10,020, above the iconic figure of 10,000 on Wednesday 26 July 2017. India stock market along with other global markets are upward movement since start of the calendar year 2017 and year to date Nifty 50 index has gained has gained 22%.
Nifty50 is broader index from The National Stock Exchange of India (NSE). NSE commenced trading in derivatives with index futures on June 12, 2000. The futures contracts on NSE are based on Nifty 50. When it was started, the base period selected was the closing of prices of November 3, 1995 and the base value of the index was set at 1000.
Journey of nifty 50 every 1000 milestone:
- 2000: December 2, 2004 (100% gain from base value of 1000)
- 3000: January, 30 2006 (50% gain from 2000 level in 13 months)
- 4000: December 1, 2006 (33.33% gain from 3000 level in 10 months)
- 5000: September 27, 2007 (25% gain from 4000 level in 10 months)
- 6000: December 11, 2007 (20% gain from 5000 level in 3 months)
- 7000: May 12, 2014 (16,67% gain from 6000 level in 77 months)
- 8000: September 01 , 2014 (14.28% gain from 7000 level in 4 months)
- 9000: March 14, 2017 (12.5% gain from 8000 level in 31 months)
- 10000: July 26, 2017 (11.11% gain from 9000 level in 4 months)
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