FY24 Market Review: Nifty 50 jumped 30%; 5 stocks including Bajaj Auto, Tata Motors delivered returns over 100%

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IPO Review: 25 companies hit Dalal Street in March with two more set to list The large-cap space has also performed well in FY24, with a handful of stocks delivering multibagger returns. The benchmark index, Nifty 50, which represents the country’s top 50 blue-chip companies across various sectors, has soared 30% in FY24 so far. It ended 9 out of the last 11 months in the green.

With the index already showing a 1% increase this month, it is poised to end on a positive note. Looking at the monthly performance, the index recorded a substantial gain of 7.94% in December, marking its best December performance in the last two decades. Also Read: Nifty 50, other indices rejig: Shriram Finance, HDFC Bank to see highest inflows Nifty 50 has notched several record highs this financial year, surpassing 19,000 in June and reaching 20,000 and 21,000 levels in September and December, respectively.

Further in January, it touched the 22,000 mark. Recently, on March 07, it recorded a new lifetime high of 22,525 points. Remarkably, in December, the market capitalisation of Indian listed companies on the NSE reached a significant milestone, crossing $4 trillion ( ₹334.72 trillion) for the first time.

This remarkable performance can be attributed to robust retail participation and strong foreign portfolio investor (FPI) inflows, along with buoyant economic growth, healthy corporate earnings, and the anticipation of continued political stability in the upcoming Lok Sabha elections. International brokerage houses have upheld their optimistic perspective on India, revising their GDP projections upward. Jefferies, for instance, foresees India ascending to become the world's third-largest economy by 2030, outpacing both Japan and Germany.