Dalal Street bulls reign in 2023 despite global headwinds – Times of India

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MUMBAI: Defenders disappointed Dalal Street Investors became optimistic as the weeks and months passed in 2023. This dramatic change was largely due to domestic factors in the face of several global conditions.
“While the year started with limited expectations and volatility in the initial months, the Indian market witnessed a remarkable recovery in the second half from the March 2023 bottom,” said. Axis Securities MD and CEO Pranav Haridasan.

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In 2023, the Sensex and Nifty Both gained 19-20%, while BSE’s mid-cap index gained 46% and small-cap index 49%. Investor WealthAs measured by BSE’s market cap, it rose by around Rs 85 lakh crore to Rs 370.6 lakh crore.
On Friday, the Sensex ended the last trading session of the year with a loss of 170 points at 72,240, while the Nifty was down 47 points at 21,731. The year began with the prospect of a recession in the US (though it never came) and a struggling Chinese economy (it consistently lags behind). As the outlook for both giants was bleak, investors were kept on guard against their forecasts for the year.
By early March, the Sensex had hit a low of 57,000. The market decline was partly due to reports against Adani Group. by US-based short-seller Hindenburg Research alleging serious corporate malfeasance which the Indian conglomerate denied. But, to a large extent, the sell-off was due to foreign fund outflows from the stock market.
The revival of Dalal Street started from this point. In the second quarter, as inflation in India showed signs of moderation and the RBI supported the economy with a less dovish stance on rate hikes, the Sensex rallied. The next quarter was about stability. The index picked up steam again in the last quarter, especially after election results in four major states raised hopes that a BJP-led coalition at the Center might be possible after the mid-2024 Lok Sabha polls. will return to power, ensuring policy continuity

Business news,Pranav Haridasan,Nifty,Investor Wealth,Pimp Street,Axis Securities,Adani Group
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