Year 2023: The last month of the year 2023 i.e. December is continuously making history. Even on a volatile day on Tuesday, December 19, the Sensex-Nifty hit new all-time highs. Sensex touched a fresh high of 71623.71 and Nifty touched an all-time high of 21,505.05 during trading. However, the Sensex later closed up 122 points at 71,437. At the same time, the Nifty also closed at 21,445 with an increase of 27 points. Nifty has returned 18 percent so far this year.
Nifty sets record: Nifty has set a new record this year. It crossed the 21000 points level on December 8 itself and is now moving towards 22000 thousand. Nifty has seen a tremendous jump of 2900 points in the current year.
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It stood at 18,105 on 30 December 2022. There were many ups and downs during this period. Nifty has given investors a good profit of 18 percent during this period. This has also resulted in a profit of nine percent in the last month alone. Not only this, the market capitalization of Nifty has also reached 4.28 trillion dollars.
Bumper earnings for investors
Along with Nifty, Sensex has also earned a bumper for investors. BSE’s market capitalization has also seen a huge jump this year, touching close to Rs 350 lakh crore. On December 30, 2022, it will be Rs. 282.38 lakh crore, which on December 8, 2023 increased to Rs. 348.84 lakh crores. This year the market capitalization is Rs. 66,46,363.67 crore has increased.
Fear increased in the world
Both India’s indices continue to dominate the global market with the Nifty rising to the fourth position and the Sensex to the fifth position in terms of returns. The American Nasdaq is in the first place which has returned around 38.06 percent this year. At the same time, Japan’s Nekkai has returned 25.63 percent. The American index S&P500 came in third, returning nearly 20 percent. At the same time, China’s Shenzhen Composite returned -14.06 percent.
Possibility of 10 percent growth next year as well
Indian stock market will grow by 10 percent in 2024. HDFC Securities made this prediction on Tuesday. Its Managing Director and Chief Executive Officer (CEO) Dheeraj Relli said Assembly elections After the Bharatiya Janata Party’s resounding victory in 2017, investors have started pricing in the expectation that the Bharatiya Janata Party will remain at the center as well. In such a scenario, the general election results may have limited impact on the market. The market may pick up in the second half of 2024 due to softening inflation rate and reduction in repo rate by RBI.
Five main reasons for the boom
- Global projections of rapid growth of Indian economy
- The confidence of domestic and foreign investors in Indian markets has increased.
- FPI in the month of December Rs. had invested more than 1 lakh crore
- Domestic business activity and consumption increased
- The price of crude oil has fallen below 80 dollars