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The stock market is once again on the bullish track. BSE’s 30-share sensitive index Sensex opened up 164 points at 71479, while Nifty 50 started the day’s trade at 21480. The Sensex rose just 24 points to 71339 in early trade due to losses in majors like TCS, Asian Paints, IndusInd Bank, Kotak Bank, HDFC Bank, HCL Tech. On the other hand Nifty was trading at 21430 level with an increase of 11 points.
2679 shares were being traded on BSE in the opening trade. Out of them 714 were on red mark and 1877 were on green mark. During this period 120 shares were in the upper circuit and 31 in the lower circuit. Apart from this, 154 stocks were trading at their 52-week highs while only 6 were at lows.
Shares of IRCTC Rs. 155 over Rs. 874 reached, buy, sell or hold
Nifty Top Gainers and Losers
Among Nifty’s top gainers, ONGC rose 1.83 percent to Rs. was trading at 202.65. Coal India rose 1.64 percent to Rs. 353.35, while Nestlé India, Reliance and Apollo Hospitals were trading up 0.75 to 1.21 percent. The Nifty’s top losers were TCS, Bajaj Auto, Asian Paints, HDFC Life and Hero MotoCorp.
The stock market will slow down next year
The stock market may slow down in 2024 and the 50-share Nifty will rise by just two percent next year. Kotak Securities made this prediction on Monday. A domestic brokerage firm said the Nifty is likely to touch 21,834 by the end of 2024, while the index closed at 21,418 at the close of trading on Monday.
Indian markets have created history with gains of over 13 percent so far in 2023, Kotak Securities said. During this period, midcap and smallcap indices saw strong growth of 39 percent and 48 percent respectively. Forecasting about 2024, the brokerage house said that we are entering a period full of various events. The first half of the new year will be watched on several factors including global interest rates, Indian consumption trends and general elections.