Indian Stock Markets Close 2023 with Mixed Sentiments

29 Dec 2023 , 03:43 PM

The curtain fell on the stock market activities for the year 2023 with a mix of performance across various indices. While the Sensex and Nifty 50 experienced a subdued last trading session, the broader market, represented by Nifty Midcap and Nifty Smallcap indices, showcased significant outperformance, underlining the resilience of midcap and smallcap stocks.

Year-End Performance: The frontline indices, Sensex and Nifty 50, posted gains of up to 20% throughout the year. However, the standout performers were the Nifty Midcap and Nifty Smallcap indices, which surged impressively by up to 50% in 2023. This divergence highlights the robust performance of midcap and smallcap segments compared to their larger counterparts.

Sectoral Winner: The Nifty Realty index emerged as the top sectoral leader for the year 2023, experiencing a remarkable surge of over 80% on a year-to-date basis. This ascent underscores the strength and attractiveness of the real estate sector during the year.

Closing Numbers: At the close of the last trading session in 2023, the Sensex reported a decline of 170.12 points, translating to a 0.23% decrease, settling at 72,240.26. Simultaneously, the Nifty recorded a dip of 47.30 points, reflecting a 0.22% decline, concluding at 21,731.40. The market breadth favored gainers, with 1,758 shares advancing, 1,533 shares declining, and 54 shares remaining unchanged.

Midcaps and Smallcaps Shine: The BSE midcap and smallcap indices outperformed, closing with gains of 0.5% each. This performance accentuates the resilience and attractiveness of midcap and smallcap stocks in the market.

Sectoral Movement: On the sectoral front, the auto index experienced a notable uptick of 1%, while the FMCG index also saw a modest increase of 0.5%. Conversely, sectors such as banking, metals, pharmaceuticals, oil & gas, and information technology (IT) witnessed selling pressure, reflecting the mixed sentiment prevailing at the year-end.