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Nifty tops 22,300: Are markets skating on thin ice? What analysts say

Even as the Nifty seems on course to register decade high fiscal gains, the rally seems to have lost momentum in the recent months, with net gains well below the overall average in FY24 so far.

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Rex CanoPuneet Wadhwa New Delhi

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The Nifty is on course to record its best-ever fiscal year gain in over a decade, barring the stellar outperformance in fiscal year 2021 (FY21), largely on account of Covid-19 related market abnormality. The Nifty 50 index has rallied 26.6 per cent thus far in the first 11 months of FY24. Other than the near 71 per cent surge in FY21, the best fiscal year returns stand at 26.7 per cent in FY15.

In the last 11 months, the Nifty has ended higher on 8 occasions (on a monthly basis), and has delivered an average return of 2.2 per cent

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First Published: Mar 01 2024 | 1:57 PM IST

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