The Nifty on Wednesday touched 10,000 for the first time since 13 March. While stock markets have been underplaying key risks such as the rising number of covid-19 cases, weak corporate earnings and a slowing economy, the ride to the current level has not been easy for the 50-share index.
Nifty charted the 10,000-mark in 52 sessions since 13 March. It had lost 26.07% to hit the lowest point of the year at 7,511.10 on 24 March as investors started dumping equities to hoard cash as a safety measure amid the rapid spread of coronavirus in India.
The Nifty had reached its all-time high on 20 January, and from then it slipped 39.58%. In this period, while Nifty gradually climbed to 10,000, gaining 5.23%, Sensex rose 4.25%.