Market Achieves New Records; Concludes 2023 with Substantial Profits
Unveiling the Triumph: A Year of Robust Growth and Record-Breaking Achievements
Market hits new milestones; ends 2023 with handsome gains
During the week, Foreign institutional investors (FIIs) bought equities worth Rs 8,648.96 crore, while Domestic institutional investors (DIIs) also bought equities worth Rs 666.06 crore.
Source: MoneyControl.com Read More at MoneyControl
Summary by NeostoxBlog:
The Indian market concluded 2023 on a high note, driven by expectations of early rate cuts in 2024 and a surge in buying from Foreign Institutional Investors (FIIs) and positive global cues. Throughout the week, the BSE Sensex and Nifty50 recorded significant gains, touching fresh highs, with BSE Sensex rising 1.60% and Nifty50 adding 1.78%. Small-cap, Mid-cap, and Large-cap indices all posted record highs, indicating broad market growth.
Highlights
- Market Performance: BSE Sensex and Nifty50 reached record highs, with year-end gains of 18.7% and 20%, respectively.
- Indices Record Highs: BSE Small-cap, Mid-cap, and Large-cap indices hit fresh record highs, with notable gains across various stocks.
- Sectoral Growth: Telecommunication, Auto, and Metal sectors led the gains, while the Information Technology sector slightly declined.
- Investor Activity: FIIs and DIIs were net buyers, with FIIs purchasing equities worth Rs 8,648.96 crore and DIIs purchasing Rs 666.06 crore.
- Currency Performance: The Indian rupee posted marginal losses against the US dollar, ending the week at 83.20.
Sentiment Analysis: With significant gains in various market indices, record highs, and positive buying trends from both FIIs and DIIs, the sentiment can be classified as Very Good. The overall tone is positive, focusing on the growth and achievements of the market, despite minor setbacks like the marginal loss of the Indian rupee against the US dollar.
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