Year Ender 2023: Stock market buzzed throughout the year, many new records made, investors’ wealth increased by Rs 80.62 lakh crore.
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Year Ender 2023: 2023 was a memorable year for the stock market… On the basis of positive factors, there was a spectacular rise in the shares and investors of Dalal Street added Rs 80.62 lakh crore to their wealth this year. Experts believe India’s strong macroeconomic fundamentals, political stability with the Bharatiya Janata Party winning in the recent elections in three states, an optimistic corporate earnings outlook, and the US Federal Reserve hinting at three possible rate cuts next year. And heavy retail investor participation played an important role in the stock market rally in 2023. Till December 28 this year, the 30-share BSE Sensex gained 11,569.64 points or 19 percent. So far this year, the market capitalization of BSE listed companies has increased by Rs 80,62,310.14 crore to reach an all-time high of Rs 3,63,00,558.07 crore. Market valuations of BSE-listed companies had reached the highest level at the end of trading on Thursday.
Sunil Nyati, Managing Director, Swastik Investmart Limited said that the Indian market has demonstrated resilience and has emerged as one of the outstanding performers among the broader emerging markets. He said that 2023 was not only a good year for the Indian stock market, but retail investors also made profits this year. Retail investors no longer panic during downturns, they are confidently holding their investments and are ready to move with India’s economic growth. Indian markets further added to their achievements this year when the combined market valuation of companies listed on BSE reached US$ 4000 billion for the first time on 29 November this year. According to a statement issued by Motilal Oswal Broking and Distribution, investors have increased confidence in political continuity after the 2024 Lok Sabha elections with the BJP’s landslide victory in the state elections of Rajasthan, Madhya Pradesh and Chhattisgarh. The statement said that this is a good sign for India’s macro and policy momentum, which is growing the most compared to other major economies.
After hitting a 52-week low of 57,084.91 points on March 20 this year, BSE Sensex reached its all-time high of 72,484.34 points on December 28. This year, the BSE index recorded monthly gains in eight, while the remaining four declined. The BSE index rose 4.87 percent in November, while it has gained eight percent so far in December. Sampath Reddy, Chief Investment Officer, Bajaj Allianz Life Insurance, said strong GDP growth, moderate inflation, stable rupee and India’s strong macroeconomic fundamentals played a key role in this resilience. Indian indices rose on the back of improving global conditions, softening of inflation, pause in rate hikes by the central bank and continued earnings growth. A rally in the broader market also boosted overall optimism. Till December 28 this year, the BSE Smallcap index rose by 13,455.51 points or 46.51 percent. Whereas the midcap index rose 11,213.69 points or 44.29 percent.
V.K., chief investment strategist at Geojit Financial Services. Vijayakumar said that the strong performance of the Indian economy and good corporate earnings in India boosted the bullishness. If we talk about the top five companies in terms of market valuation, Reliance Industries is at first place with Rs 17,63,001.81 crore. Tata Consultancy Services is at second place with a market valuation of Rs 13,90,823.72 crore, HDFC Bank is at third place with Rs 12,94,593.58 crore, ICICI Bank is at fourth place with a market valuation of Rs 7,05,236.23 crore and Infosys is at the fourth place with a market valuation of Rs 6,48,713.08 crore. Is at number five with.
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