Stock market today: BSE Sensex slips 200 points, Nifty below 21,750 on last trading day of year – Times of India

Stock market today: BSE Sensex slips 200 points, Nifty below 21,750 on last trading day of year - Times of India

Stock market today: Indian Stock Market Indices BSE Sensex And the Nifty50 started the last trading session of 2023 on a negative note. While the BSE Sensex fell over 200 points in early trade, Nifty50 was also below the 21,750 level. At 9:25 am, the BSE Sensex was trading down 179 points, or 0.25 percent, at 72,231.07. The Nifty 50 was down 60 points or 0.28 percent at 21,717.80.
However, Siddharth Khemka, head of retail research at Motilal Oswal, has said that year-end prospects for the market remain positive.
During the last five trading days, the BSE benchmark gained 1,904.07 points or 2.70 percent, taking the market capitalization of BSE-listed firms to an all-time high of Rs 3,63,00,558.07 crore. According to a PTI report, this is an increase of Rs 12,80,559.2 crore, adding Rs 12.8 lakh crore to investors.
Prashant Tapse, senior VP (research) at Mehta Equities Ltd, stressed that inflation worries are over and the expectation of an early rate cut by the US Federal Reserve is boosting confidence in India’s growth momentum.
While Indian markets have witnessed a strong bullish trend, market experts have been cautious about valuations and have seen the market correct intermittently as investors sell profits.
Globally, the S&P 500 edged up slightly ahead of Thursday’s close, marking the closing trading day of 2023. Asian markets showed mixed trends in the final session of the year after US stocks rose modestly and investors looked for opportunities in China.
On Wednesday, foreign portfolio investors bought shares worth Rs 4,358 crore, while DIIs sold shares worth Rs 136 crore.
After a series of losses, the rupee gained 14 paise to 83.20 against the US dollar on Thursday, supported by a weaker overseas dollar and a rally in domestic equities.
FIIs’ net long position rose to Rs 81,638 crore on Thursday from Rs 74,252 crore on Wednesday.

Business news,Stock market today,Nifty50,Indian Equity,Pimp Street,BSE Sensex,Bombay Stock Exchange

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