Share Market Market ends FY24 at record high, Nifty rises 29%
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The financial year 2023-24 has ended. The financial year has ended on 28 March 2024. This financial year was very happy for the stock market. In this financial year, Nifty has given an excellent return of 29% to the investors. This financial year has been very happy for investors because the current financial year 2023-24 has seen a huge increase in the wealth of investors. According to the data, investors’ wealth has increased by Rs 128.77 lakh crore in the current financial year 2023-24.
The domestic stock market has been supported by the strong fundamentals of the economy, increasing capital inflow and better financial results of companies. The performance of the domestic stock market was quite weak in the year 2022-23. In such a situation, the market has seen tremendous improvement during the year 2023-24 due to which the faces of investors have blossomed. In the financial year 2023-24, BSE Sensex strengthened by 14,659.83 points or 24.85 percent. Whereas Nifty was successful in doing strong business by 4,967.15 points i.e. 28.61 percent.
Sensex made records
Talking about this financial year, on March 7, the benchmark index Sensex had reached its highest ever record of 74,245.17. With this, the market capitalization of BSE listed companies increased by Rs 1,28,77,203.77 crore to reach Rs 3,86,97,099.77 crore in 2023-24.
The market showed strength
Swastika Investmart Ltd. Sunil Nyati, Managing Director, said, “Amid inflationary concerns, rising interest rates and fears of an impending global recession, the country’s stock market showed remarkable strength throughout the financial year 2023-24. Even the shocks caused by ongoing global political tensions were short-lived. The strength in the market helped it overcome these challenges well.” On March 2 this year, the market capitalization of BSE-listed companies had reached an all-time high of Rs 394 lakh crore. BSE Sensex based on thirty shares closed at 73,651.35 points on Thursday, the last trading day of the current financial year, with a gain of 655.04 points or 0.90 percent.
He said, “The rise in the Indian stock market can be mainly attributed to the strong fundamentals of the Indian economy. Because of this the economy has been able to face global challenges. Expectations of continued political stability and the possibility of additional economic reforms are playing a key role in boosting the market. Furthermore, considering that interest is at an all-time high, it is unlikely to rise any further.
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