Nifty Re-Conquers the Level of 20,000

Nifty, after a gap of almost two and a half months, once again crossed the psychological level of the 20,000 mark last week. The sharp surge witnessed in the frontline indices was after consolidating in a very narrow range for a couple of weeks. There were some factors that led to such a decisive breakout from the range, the biggest being the softening of the US Treasury yield. The US’ 10-year benchmark Treasury yields have crashed from a high of 5 per cent to 4.27 per cent currently, which is at near two-month lows.