Nifty top 18,000 pts a day after IMF's bullish economic forecasts for India

The Nifty50 closed at 18,162, up 170 points, or nearly 1%, extending its year-to-date gains to 30%

The benchmark Nifty50 index closed above the 18,000 mark for the first time on Wednesday, a day after the International Monetary Fund (IMF) projected that India would retain its fastest-growing economy tag with an estimated gross domestic product (GDP) growth rate of 9.5 per cent in FY2022.

The index, which tracks the performance of India’s top 50 blue-chip companies, rose for the fifth straight trading session and logged a record high for the fourth consecutive session.

The Nifty50 closed at 18,162, up 170 points, or nearly 1 per cent, extending its year-to-date gains to 30 per cent. This makes India the best-performing