The Nifty 50, which represents the top 50 companies in India, continued to rise today, reaching an all-time high of 22,150 points, surpassing its previous high of 22,124 points reached on January 16. This continued its winning run for the fifth straight session. Nifty 50 hits record high, marking fifth consecutive day of gains.
The market surge of today helped NSE-listed companies’ combined market capitalization surpass $4.65 trillion. The index has increased by almost 2% in the last four trading sessions.
Seven stocks hit new 52-week highs in today’s trading session: Adani Enterprises, Bajaj Auto, Dr. Reddy’s Laboratories, Maruti Suzuki India, Adani Ports & Special Economic Zone, Wipro, and SBI Life Insurance Company.
Top gainers include Dr. Reddy’s Laboratories, ICICI Bank, Adani Enterprises, Bharti Airtel, Grasim Industries, Bajaj Finance, Bajaj Finserv, and Bajaj Auto. Their trading gains range from 1.5% to 2.8%. With notable contributions from other industry titans like TCS, Reliance Industries, Coal India, M&M, and Infosys, the State Bank of India has so far emerged as the main force behind the index’s rise in February.
Given the underperformance of large-cap stocks in comparison to mid- and small-cap counters, analysts have been optimistic about them. The index has increased by 410 points, or 1.92%, so far this year. Additionally, from its low of 16,828 in March 2023, the index has increased by 31.60%. By contrast, the index has produced an impressive multi-bagger return of 195% when compared to the COVID lows of 7,511.
In contrast, as of 11:45 a.m., the Nifty Small Cap 100 index and the Nifty Midcap 100 index had both seen gains of more than 0.60% and 0.70%, respectively.
Disclaimer: Before making any investment decisions, investors are advised to consult with qualified specialists.
