Stock market in 2023: Here are 10 key milestones achieved by Indian stock market this year
BSE has surpassed ₹366 lakh crore, underscoring the significant growth and value within the market. December 2023 has emerged as the best month in terms of returns for the Indian market. The Nifty 50 has recorded a remarkable surge of over 7% within the month, constituting the most substantial monthly rally observed throughout the year.
This was followed by more than 5.5% gains in the month of November. Also Read: Outlook 2024: Bullish on PSU theme, IT sector may face headwinds, says Naveen Kulkarni of Axis Securities PMS Let us take a look at some of the key milestones achieved by the Indian stock market in 2023: 1. Nifty 50 index delivered nearly 20% returns, while BSE Sensex surged more than 18% in 2023 so far.
2. Broader markets outperformed the frontliners by a heavy margin as the Nifty Smallcap 100 index surged 54%, while the Nifty Midcap 100 jumped over 44% in 2023. 3.
The market cap to GDP ratio increased by 10 percentage points to 115 as of December 25, 2023, from 105 on December 31, 2022. 4. India’s market capitalisation crossed the $4 trillion mark.
The Indian stock market is ranked fourth in the world in terms of market capitalisation, following the United States, China and Japan. (Exciting news! Mint is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest financial insights! Click here!) 5. Nifty 50 touched 20,000 on September 11, 2023, and soon 21,000 on December 8, 2023.
6. The Indian market commenced the year 2023 on a somber note, with the Nifty 50 experiencing a decline of over 2% each in the initial two months. The index recorded negative returns in four months of the year - namely January, February, August, and October.
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