Shillong, July 20: Nifty closed with significant gains of 146 points at 19,979 levels, indicating that domestic equities are on the brink of reaching the psychological level of 20,000. All sectors except IT and consumer durables ended in the green, with BFSI, FMCG, and pharma leading the gains.
With consistent FIIs buying, strong macro and micro indicators, and a surplus monsoon, Nifty has rallied by 15% since April 1 and 4% month-to-date. Analysts predict that Nifty is likely to cross the 20,000-mark on Friday, given the ongoing market momentum and strength.
IANS reported that investors are also eagerly awaiting Reliance Q1 results and management commentaries, along with further details on Jio’s financial listing, as strong heavyweights’ performance can further influence the market direction.
Despite opening flat, Nifty showed strong upside momentum and recorded a new all-time high at 19,991 levels intraday, supported by buying interest around the 19,750 level.