2024 NSE index rise on Independence Day: Between July 14, 2024, and the previous Independence Day, the benchmark index NSE Nifty 50 increased by more than 24%. In a similar vein, the S&P-compiled BSE Sensex yielded a 21% return throughout that time frame. The Nifty, which consists of the 50 largest firms in terms of market capitalization, has increased by slightly more than 11% year to date, while the Sensex has returned 9.5%.
This Independence Day, August 15, 2023, saw an over 13% increase in the Bank Nifty banking index. It’s interesting to observe that, year to date, it has only produced a 3.1% return, failing both benchmarks by a minimum of 6.4 percentage points, or 640 basis points.
Nifty Realty, one of the sectoral indices, surpassed all others, providing an incredible 94% return from August 15 of last year to Independence Day of this year. This implies that if a person had put money into the real estate index on August 15, 2023, it would have nearly doubled by now. Despite this, the index has returned 30% thus far this year, greatly outperforming both benchmarks.
Moreover, Nifty Auto came after Nifty Realty and increased the net worth of its investors by over 64% within the same period. It’s interesting to note that, starting on August 14, 2023, Nifty Media was the only sectoral index to wipe out the value of its investors by 9% in the previous year. The value of investors was reduced by 17% year over year.
Aside from that, on August 14, the Sensex increased by 150 points, or 0.19%, to 79,105.89, while the Nifty 50 gained just 4.75 points, or 0.02%, to close at 24,143.75. Large-cap stocks led the advances in the overall indices, which concluded in mixed territory. Among the other sectors indices, IT and auto companies performed better, while media and metal stocks declined.
