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

Byusanewscart.com

Dec 29, 2023
Stock market today: BSE Sensex slips 200 points, Nifty below 21,750 on last trading day of year

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Stock market today: Indian stock market indices, BSE Sensex and Nifty50, started the last trading session of 2023 on a negative note. While BSE Sensex dipped 200 points in opening trade, Nifty50 was also below 21,750 levels. At 9:25 AM, BSE Sensex was trading at 72,231.07, down 179 points or 0.25%. Nifty50 was at 21,717.80, down 60 points or 0.28%.
However, Siddhartha Khemka, Motilal Oswal’s Head of Retail Research has said that expectations remain positive for the market to close the year on a high note.
Over the last five trading days, the BSE benchmark surged by 1,904.07 points or 2.70 per cent, propelling the market capitalization of BSE-listed firms to a record 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, leaving investors richer by 12.8 lakh crore.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, emphasized the alleviation of inflation worries and the anticipation of an early rate cut by the US Federal Reserve are boosting confidence in India’s growth trajectory.
While Indian markets are witnessing a strong bull run, market experts have cautioned about valuations and see the market correcting intermittently as investors book profits.
Globally, the S&P 500 slightly edged up on Thursday before closing, marking the penultimate trading day of 2023. Asian markets showed mixed trends in the year’s final session following a modest gain in US stocks and as investors sought opportunities in China.
On Wednesday, foreign portfolio investors netted purchases worth Rs 4,358 crore, while DIIs sold shares amounting to Rs 136 crore.
After consecutive declines, the rupee rebounded by 14 paise to settle at 83.20 against the US dollar on Thursday, supported by a weaker dollar abroad and a rally in domestic equities.
FIIs’ net long position rose from Rs 74,252 crore on Wednesday to Rs 81,638 crore on Thursday.



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