As India celebrates its 78th Independence Day, the country's stock markets stand as a testament to remarkable growth and resilience. The major benchmark index of the country Nifty 50 has given a return of more than 2000 per cent since its beginning in 1996.
The journey of the Indian stock market, particularly the Nifty 50 index, underscores the significant evolution of the financial sector over the decades. The Nifty 50 index began its journey on April 22, 1996, with a starting value of 1136.28 point and has recently crossed 25,000 points a growth of nearly 22 times.
In less than four years from April 1996, as the country transitioned into the 21st century, the index had climbed to 1592.90 points, showcasing early signs of its potential. By December 2, 2004, just days before the beginning of 2005, the Nifty 50 achieved a historic milestone, crossing the 2000-point mark. This achievement set the stage for further growth, but the journey was not without its challenges.
The global financial crisis of 2008 tested the resilience of the Indian stock market. At the start of the year, the Nifty 50 was trading around 6300 points. However, by the end of 2008, the index had plummeted to a low of 2500 points, reflecting the global economic turmoil. Despite this setback, India's financial sector showed remarkable strength. By December 31, 2009, less than a year after the crisis, the Nifty 50 had rebounded to 5200 points.
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