Market Wrap: Nifty closes over 20,000 for the first time; investors richer by over ₹3 lakh crore in a day
Nifty hit its fresh record high of 19,992.65 in intraday trade on Monday. Nifty's last all-time high was 19,991.85 which it hit on July 20 this year.
Thus, it scaled a fresh peak in 36 sessions. Experts expected the market benchmark to hit a new high as sentiment was upbeat after the G20 summit.
V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services is of the view that the acceptance of the G20 Delhi Declaration has given a boost to market sentiment as it underscored India's growing diplomatic might. "The G20 Delhi Declaration and India’s diplomatic triumph can trigger a continuation of the positive market mood and momentum.
More importantly, the inclusion of the African Union in G20 and the proposed India-Middle East-Europe Corridor have positive economic and market connotations. For instance, the inclusion of the African Union in G20 is positive news for Bharti Airtel which has a significant presence in Africa," Vijayakumar pointed out.
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