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Stock Market Today: BSE Sensex Nifty50 December 28 2023 market rally year end Indian equities Dalal street | India Business News

Byusanewscart.com

Dec 28, 2023
Stock Market Today: BSE Sensex Nifty50 December 28 2023 market rally year end Indian equities Dalal street | India Business News

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Stock market today: BSE Sensex and Nifty50 continued their year-end rally streak with a strong start to the trading day on Thursday. While Sensex rose over 300 points, Nifty50 was also up above levels of 21,700. At 9:22 AM, BSE Sensex was trading at 72,340.26, up 302 points or 0.42%. Nifty50 was up 87.75 points or 0.41% at 21,742.50 levels.
In the four days to Wednesday, the BSE benchmark surged by 1,532.12 points or 2.17%, leading to a rise of Rs 11,11,599.28 crore in the market capitalization of BSE-listed companies.The market capitalization at the end of Wednesday stood at Rs 3,61,31,598.15 crore.
Indian equities are reaching new peaks driven by optimism surrounding the country’s macroeconomic fundamentals and strong global market trends. Analysts expect the market rally to continue into the next year, with some instances of correction and profit booking.ET quoted Siddhartha Khemka, Head of Retail Research at Motilal Oswal saying that although there might be some volatility due to the derivatives monthly expiry on Thursday, the overall market sentiment remains bullish. According to Nagaraj Shetti from HDFC Securities, the next target levels to observe are around 22,000-22,200 in the coming week. Immediate support is expected at 21,300 levels.
US stocks closed slightly higher on Wednesday, with the S&P 500 hovering just below bull market confirmation. The Dow increased by 0.30%, the S&P rose by 0.14%, and the Nasdaq gained 0.16%.

Asia experienced a global bond rally on Thursday as investors positioned themselves ahead of anticipated US Federal Reserve interest rate cuts. S&P 500 futures and Nasdaq 100 futures remained relatively unchanged, while Hang Seng futures fell by 0.2%. Japan’s Topix fell by 0.4%, while Australia’s S&P/ASX 200 rose by 0.4%.
Foreign portfolio investors were net buyers, with a total of Rs 2,926 crore on Wednesday, while DIIs sold shares worth Rs 192 crore.

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