stock market today:Indian Stock Market Index, bse sensex And Nifty50 started the last trading session of 2023 on a negative note. Where BSE Sensex fell 200 points in early trading. nifty 50 Was also below the level of 21,750. At 9:25 am, BSE Sensex was trading at 72,231.07, down 179 points or 0.25%. Nifty50 was down 60 points or 0.28% at 21,717.80.
However, Siddharth Khemka, head of retail research at Motilal Oswal, said expectations for the market to end the year on a higher note remain positive.
In the last five trading days, the BSE benchmark gained 1,904.07 points or 2.70 per cent, taking the market capitalization of BSE-listed companies to a record high of Rs 3,63,00,558.07 crore. According to PTI report, this is an increase of Rs 12,80,559.2 crore, making investors Rs 12.8 lakh crore richer.
Prashant Tapase, senior vice-president (research), Mehta Equities Ltd, stressed easing inflation concerns and expectations of an early rate cut by the US Federal Reserve are boosting confidence in India’s growth path.
While Indian markets are witnessing a strong rally, market experts have cautioned about valuations and observed intermittent market pullback due to profit-booking by investors.
Globally, the S&P 500 rose slightly before the close on Thursday, which marks the last trading day of 2023. Asian markets showed a mixed trend in the final session of the year after US stocks led modest gains as investors looked for opportunities in China.
On Wednesday, foreign portfolio investors made net purchases of Rs 4,358 crore, while DIIs sold shares worth Rs 136 crore.
After sustained losses, the rupee on Thursday closed 14 paise higher at 83.20 against the US dollar, supported by a weak dollar overseas and a rise in domestic equities.
The net long position of FIIs increased to Rs 81,638 crore on Thursday from Rs 74,252 crore on Wednesday.