Nifty hits new high; Can it topple 20,000-mark? Here's what history hints

The NSE Nifty 50 on Wednesday scaled a new high after 142 trading days. The average swing returns since 2018 are 32.8 per cent suggesting an upside target beyond 22,000-mark.

The NSE Nifty 50 hit a fresh all-time high at 18,908.15 in intra-day trade on Wednesday June 28, 2023, after a gap of 142 trading days. Positive global cues, a strong rally in banking shares in the backdrop of HDFC-HDFC Bank merger and dip in crude oil prices boosted the market sentiment today.

Historically, on an average the Nifty has spent around 363 days before scaling new peaks since the year 2000, shows data. This was largely due to a prolonged bear phase between January 2008 and March 2015.

Over the last five-odd years, since January 2018, the Nifty 50