Home » Nifty Hits 20k After 47 Sessions: What’s Driving the Surge?

Nifty Hits 20k After 47 Sessions: What’s Driving the Surge?

The image is a feature image explaining how Nifty touched the 20000 mark again for the first time since September 2023.

Nifty crosses 20,000, driven by global cues and strong HDFC Bank, Infosys, RIL performance. Fed’s Waller’s dovish remarks boost optimism.

Surge in Stocks with Significant Market Influence:

The image explains how the upward arrow is related to the Nifty hitting the 20000 mark and what are the different stocks behind this contribution to the rally.

Following a positive rating from JPMorgan, RIL shares rose as the global brokerage marked them ‘higher weight’ with a target price of Rs 2,810. This projection implies a significant upside of 17 percent from the current levels.
Index heavyweights like RIL, ICICI Bank, Infosys, HDFC Bank, and TCS surged due to the possible shift of the US Federal Retirement Thrift Investment Board (FRTIB) to a new MSCI Index.
Abhilash Pagaria, Head of Nuvama Alternative & Quantitative Research, anticipates significant inflows of $809 million for the mentioned stocks due to this transition.

Prediction based on Global cues:

Asian stocks reached one-week highs, driven by positive market sentiment. Positive indicators, like the US 10-year bond yield dropping to 4.3% and the dollar index slipping below 103, boost optimism in local markets.
VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, is optimistic about India’s ongoing rally, citing a favorable global market backdrop.

Nifty’s Next Resistance Level:

The image explains, that a Line Chart is shown and the target is set by the hand of some person indicating the next Resistance Level for the Nifty.

Chart Analysis Suggests Nifty’s Support Levels at 19,850, 19,800, and 19,750, while Resistance is Anticipated at 20,100 and 20,150. Rupee Strength Adds to Positive Sentiment, Gaining 3 Paise Against the Dollar.


Nifty achieved the 20,000 milestone, marking a positive trend in the stock market. The rally was driven by strong performances in heavyweights like HDFC Bank, Infosys, and Reliance Industries. Global factors, including a dovish outlook from a US Federal Reserve official, supported the optimism. The positive momentum continued for two consecutive sessions, with the Nifty crossing the 20,000 level for the first time since September 2023. The supportive comments from the US Federal Reserve and gains in key stocks contributed to the overall market optimism, portraying a favorable outlook

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