Week Ahead: Auto sales, Q3 updates, US Fed minutes among key triggers; Nifty 50 eyes record highs as markets enter 2024
rose around 20 per cent in 2023, logging their second-best year since 2017. D-Street investors added a significant ₹81.90 lakh crore to their wealth in 2023 powered by a stellar rally in stocks. The bull run was supported by sustained domestic mutual fund inflows, foreign capital inflows, better-than-expected economic growth, and robust corporate earnings.
Nifty 50 marked the eighth consecutive year of positive returns. Also Read: From Tata Motors to Infosys, here are the top 10 Nifty 50 stocks that moved the most in 2023 India became a stock market superpower with market capitalisation surpassing the $4 trillion mark securing fifth position after the US, China, Japan and Hong Kong. In 2023, the BSE benchmark jumped 11,399.52 points or 18.73 per cent, and the Nifty climbed 3,626.1 points or 20 per cent.
The broader small- and mid-caps gained about 55.62 per cent and 46.57 per cent in 2023, far outperforming the blue-chip indexes despite valuation concerns. The BSE smallcap gauge jumped 13,746.97 points or 47.52 per cent this year while the midcap index climbed 11,524.72 points or 45.52 per cent. On the last trading session of 2023, the Nifty 50 settled at 21,731.40 and Sensex closed at 72,240.26, snapping their five-day winning streak, on profit-booking in select heavyweights even as the mid and smallcap indices ended with healthy gains.
The BSE midcap and smallcap indices hit their fresh record highs of 36,889.87 and 42,728.21 respectively during the session. In the last five trading sessions, the BSE benchmark rallied 1,904.07 points or 2.70 per cent, and the Nifty climbed 628.55 points or 2.97 per cent. Nifty 50 surged more than seven per cent in December alone.
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