Nifty 50 Returns After Modi’s Third Consecutive Term: 3 Years of Independence Day Eve Closes
Prime Minister Narendra Modi’s third consecutive term began with a historic political milestone. On 7 June 2024, Narendra Modi was confirmed as the leader to form the government for a third consecutive term.
Interestingly, the Nifty 50 has remained in a remarkably similar range on the eve of Independence Day across the following three years.
The average Nifty 50 closing level across these three Independence Day eves is approximately 24,380 points.
Despite three years passing since the 2024 political milestone, the index has remained around this broad range on these specific dates. This raises an interesting question for investors: Has the Nifty 50 actually delivered returns comparable to a fixed deposit over this period when measured from these Independence Day eve levels?
The comparison also highlights how important the starting point and measurement period are when evaluating stock-market returns. While the Nifty has experienced significant rallies and corrections during these three years, these three annual Independence Day eve closing levels show relatively limited movement around the 24,000–25,000 zone.
For investors, the takeaway is simple: market returns should always be evaluated over the full investment period rather than by looking at a single year's performance.
As India celebrates Independence Day, this three-year Nifty comparison provides an interesting perspective on how the benchmark index has moved during the period of Modi’s third consecutive term.
Happy Independence Day! 🇮🇳