New Delhi: The NSE Nifty rose to a record high on Tuesday by crossing the 10,000 mark for the first time ever.
The Nifty 50 is a diversified 50 stock index accounting for 12 sectors of the economy. It is used for a variety of purposes such as benchmarking fund portfolios, index based derivatives and index funds.
Nifty 50 is owned and managed by India Index Services and Products Ltd. (IISL).
NSE was incorporated in 1992 while it was recognised as a stock exchange by SEBI in April 1993 and commenced operations in 1994 with the launch of the wholesale debt market, followed shortly after by the launch of the cash market segment.
Here’s the journey of Nifty over the years
|1995||Established an Investor Protection Fund Trust.|
|1996||Created and administered a settlement fund.
Launched NIFTY 50 Index, which remains our flagship index today.
Commenced trading and settlement in dematerialised securities on our exchange.
|1998||Commenced NSE certification for “Financial Markets certification program” (NCFM) in India.|
|2000||Launch of index futures based on the NIFTY 50 index (then known as S&P CNX NIFTY) for trading;
Listed index futures on NIFTY 50 on the Singapore Exchange;
Commenced internet trading
|2001||Launched index options based on the NIFTY 50 index (then known as S&P CNX NIFTY) for trading
Launched single stock futures and options on listed securities.
|2002||Launched ETFs listings.|
|2005||Launched NIFTY Bank index derivatives.|
|2008||First in India to offer trading in Currency Futures.
Establishment of Securities Lending and Borrowing Scheme (SLBS).
Launched NOW platform for web-based trading.
|2009||Launched Mutual Fund Service System (MFSS).|
|2010||Launched NOW platform for mobile devices.
Launched trading in Currency Options
|2011||Commenced trading in index futures and options on global indices, namely the S&P 500 and Dow Jones Industrial Average.|
|2012||Commenced trading in index futures and options contracts on the FTSE 100 index
Launched SME-specific EMERGE platform for the listing and trading of securities of SMEs.
|2013||Launched the New Debt Segment(NDS).|
|2014||Launched NMF-II platform for mutual funds
Launched NBF II segment for interest rate futures
Launched trading on India VIX index futures
Commenced trading on NIFTY 50 (then known as CNX NIFTY) on the Osaka Exchange
|2015||Entered into a memorandum of understanding to enhance the level of cooperation with the London Stock Exchange Group.
Renamed CNX NIFTY to NIFTY 50.
|2016||Launched NIFTY 50 index futures trading on TAIFEX
Launched platform for sovereign gold bond issuances
Launched electronic book-building platform for private placement of debt securities
Journey of Nifty from 1,000 to 10,000 level
The NIFTY 50 index was launched on 21st April 1996 with the base value of the index set at 1,000.
Nifty touched 2,000 mark for the first time in 2004.
On January 2006 Nifty touched the 3,000 level for the first time.
Nifty touched 4,000-mark in 2006.
Nifty crossed 5,000 mark for the first time in 2007, the same year it also crossed 6,000 mark.
After almost a three-years hiatus, Nifty touched 7,000 mark for the first time in May 2014 as optimism increased in favour of BJP winning majority in Lok Sabha elections.
In September, the same year Nifty crossed the 8,000 mark with market anticipating that Prime Minister Narendra Modi will push through further economic reforms.
Nifty crossed the 9,000 mark for the first time in March 2015.
The market sentiment driven by the country’s biggest tax reform till date — the Goods and Services Tax — which came into force from July 1, good monsoon and hopes of of intact economic growth, RBI seen cutting rates and recovery in earnings recovery are believed to have pushed the index higher to 10,000 mark on July 2017.