sensex today: ET Market Watch: How was the last trading day of CY2023?
Indian markets closed slightly lower today and were dragged down by banking, financials, IT, and energy shares. All the shares recently saw a tremendous rally
-Sensex closed above the 72,200 mark while Nifty was above the 21,700 mark. Even though markets ended in red – both indices gained about 20% each this year
-All major sectors rose in 2023, with real estate, auto, pharma and state-owned banks advancing the most at between 34% and 80%.
-Nifty Midcap100 and Smallcap100 rose 0.8% and 0.6%, respectively, today. Small and mid-caps gained about 55% and 46% in 2023, far outperforming the blue-chip indices despite valuation concerns.
Stocks in news
Tata Motors closed 3.4% higher amid reports that the government is working on a plan to replace 800,000 diesel buses with electric ones over the next seven years.
Vodafone Idea shares rallied 21%, backed by heavy volume in the counter.
The rally in the Indian stock market was driven by sustained domestic mutual fund inflows, return of foreign buying, better-than-expected economic growth, and healthy corporate earnings.
Crude Oil & Rupee
Oil prices are set to end 2023 about 10% lower, the first annual decline in two years, after geopolitical concerns, production cuts and more.
Brent crude futures were at $77.36 a barrel on Friday, while the US (WTI) crude futures were at $71.84. The rupee ended the year at 83.2075 to the US dollar.