Celebrating 29 Years of Nifty: From 1,000 in 1996 to Over 26,000 Today
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Synopsis
The Nifty index, launched by the NSE on April 22, 1996, celebrates its 29th anniversary, reflecting India's economic progress. From a base of 1,000, it has surged past 26,000, demonstrating remarkable resilience amid challenges.
Key Takeaways
- Nifty's base value was 1,000 in 1996.
- It surpassed 26,000 in September 2024.
- Tracks 50 major companies across 15 sectors.
- Played a vital role in the growth of India's derivatives market.
- Resilient despite economic challenges.
Mumbai, April 22 (NationPress) Over the span of nearly three decades, the Nifty index has transformed into a vital indicator of the Indian equity market, escalating from a base value of 1,000 to surpass 26,000.
On Tuesday, the Nifty celebrated its 29th anniversary, continuing to reflect India’s economic growth, investor confidence, and overall market sentiment.
Launched by the National Stock Exchange (NSE) on April 22, 1996, the Nifty was introduced merely two years after the exchange commenced its operations.
The index was established with a base date of November 3, 1995, and a base value of 1,000. Currently, it tracks the performance of 50 of the most traded and largest companies in India across 15 sectors, representing approximately 55.48% of the NSE’s total free-float market capitalization as of March 28, 2025.
Since its inception, the index has experienced remarkable growth, breaking through 1,000 points in 1999, 5,000 by 2007, and 10,000 in 2017.
The momentum picked up speed post-2020, with the index exceeding 15,000 in February 2021 and surpassing 26,000 in September 2024.
The highest closing level recorded to date is 26,216.05 on September 26, 2024, with an all-time intra-day high of 26,277.35 achieved the following day.
This extraordinary rally was fueled by robust corporate earnings, high participation levels from both retail and institutional investors, and stable macroeconomic performance.
However, the path has not been devoid of challenges. The index has navigated various global and domestic upheavals, including the 2008 financial crisis, the COVID-19 pandemic, and recent uncertainties stemming from a potential US recession triggered by tariffs announced by former President Donald Trump.
Despite these hurdles, the index has consistently demonstrated resilience, rebounding strongly and maintaining its upward trend.
Furthermore, the index has been instrumental in the growth of India’s derivatives market. Trading in futures and options on the Nifty commenced on June 12, 2000, and it remains one of the most actively traded instruments on the exchange.
Meanwhile, the NSE is gearing up for its own market debut. In March 2025, the exchange submitted a comprehensive response to the Securities and Exchange Board of India (SEBI), addressing inquiries related to its IPO plans and seeking approval to file its draft red herring prospectus (DRHP).
In contrast, the BSE, its older counterpart, has been publicly listed since February 2017.
