NSE index rally 2024, Independence Day: The benchmark index NSE Nifty 50 has risen more than 24% from the last Independence Day to August 14, 2024. Similarly, the S&P compiled BSE Sensex gave a return of 21% in the same period. From year to date, the Sensex has given a return of 9.5% and the Nifty comprising the 50 biggest stocks in term market capitalisation has risen a bit more than 11%.
The banking index, Bank Nifty, has risen almost 13% from August 15, 2023, to this Independence Day. The interesting point to note is that it just yielded a return of a mere 3.1% from year to date, underperforming both benchmarks by at least 6.4 percentage points or 640 basis points.
Nifty Realty doubled money in one year
Among the sectoral indices, Nifty Realty outperformed everyone by giving a whopping return of 94% from last year’s August 15 to this year’s Independence Day. This means that if someone had invested his or her money in the realty index on August 15, 2023, the money would have almost doubled in meantime by now. However, the index gave a return of 30% from year to date, still surpassing both the benchmarks by a large margin.
Furthermore, Nifty Realty was followed by Nifty Auto, which raised its investors’ net worth by almost 64% in the same time frame as aforementioned.
Nifty Media wiped investors’ wealth
Interestingly, Nifty Media was the only sectoral index wiping off its investors’ worth by 9% in the last one year, starting from August 14, 2023. It erased 17% off investors’ worth from year to date.
Apart from that, Nifty 50 gained just 4.75 points or 0.02% to settle at 24,143.75, while the Sensex jumped 150 points or 0.19% to 79,105.89 on August 14. The broader indices ended in mixed territory, with gains led by largecap stocks. IT and auto stocks outperformed among the other sectoral indices while metal and media stocks shed.