Over the decade spanning 2014 to 2023, the Nifty 50 closed positive on six occasions (2014, 2016, 2018, 2020, 2021, 2022) and negative in the remaining four (2015, 2017, 2019, 2023). The highest gains were seen in 2021 (8.7%), followed by 2022 (3.5%) and 2014 (3%). Conversely, the steepest decline occurred in 2015 (-6.6%), with lesser dips in 2017 (-1.6%), 2019 (-0.9%), and 2023 (-2.5%).
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This strength is underpinned by robust domestic demand, a sustained capex cycle, and relatively limited exposure to global shocks compared to developed markets.