oppn parties Nifty At 20000: Reflecting The Growth In India's Top Companies

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October 17, 2026

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  • Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
  • Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
  • Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
  • Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
  • The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
  • India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
  • Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
  • Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
  • India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
  • Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
  • Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
  • The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
  • The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
  • The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
  • The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027
Delhi HC refuses to ban CJP's Tiranga rally at Central Park in Connaught Place today /////// Police says will control and regulate it /////// NDMC closes the park for the public on Friday and Saturday
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Nifty At 20000: Reflecting The Growth In India's Top Companies

By Linus Garg
First publised on 2023-09-13 14:56:31

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

It took Nifty 21 years to move from its base of 1000 when launched in 1996 to 10000 in 2017. The journey from 10000 to 20000 was completed in six years. Since the stock market is largely driven by sentiment, the significance of Nifty crossing 20000 in intra-day trades on two successive days was not lost on market observers. Finally, it broke the barrier and closed above 20000 for the first time to end at 20070 on Wednesday, 13th August.

Nifty 50 is considered the bellwether of investor sentiment in India as it comprises of 50 of the biggest and most successful companies in India. Despite its rise, Nifty 50 is trading below the P/E multiple it had attained before the pandemic hit to disrupt economic activities. The BSE Sensex, on the other hand, which comprises of "the 30 largest, most liquid and financially sound companies across key sectors of the Indian economy that are listed at BSE Ltd." (as per the BSE website), is trading above its long term average. Also, there is no golden cross in overall stock charts yet. Hence, the potential for an all-round major rally does not exist.

In fact, Kotak Institutional Equities published a report a couple of days ago which says that mid-, and small-cap stocks are overpriced as of now due to excessive investor exuberance. It also dropped recommendation in the stocks in the two segments. The day after the publication of the report, mid-, and small-cap indices shed 3-4%, although they recovered marginally a day later. Since both the Nifty and the Sensex do not incorporate mid- and small-caps, there was no effect on them but the fact remained that the wider market is volatile. The other downside is that despite the Indian economy performing well, demand is not improving and sales are flat. Although Nifty 50 crossing the 20000 milestone calls for celebration, investors need to be careful and must make informed decisions when buying or selling stocks as even the RBI has successively lower growth projections for each of the remaining quarters of this financial year. 

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