The year 2023 has proved to be great for the stock market. This year, major Indian stock markets continuously achieved new heights. Sensex and Nifty are trading near their all-time highs. During the year, many indices including Sensex and Nifty created new highs.
There was such a boom in the stock market
There is still some time left for the last day of business. The market is going down a bit on the last trading day of the year 2023, but before that a tremendous rally has been recorded. This year the Sensex has strengthened by more than 18 percent and managed to cross the level of 72 thousand points for the first time. Similarly, NSE’s Nifty50 has strengthened by about 20 percent and reached near 22 thousand points.
PSU shares led the rally
Many shares have become multibaggers in this stock market rally. The special thing of this year was that government shares i.e. PSU stocks contributed significantly in the rally. If it is said that government shares led the market rally, then it would also not be wrong, because during the year 2023, more than a dozen government shares gave multibagger returns and made at least double the income to their investors.
These 3 PSU stocks are the strongest
According to the data till December 28, two government shares showed a rise of 250-250 percent in 2023. REC remained on top with a huge rise of 252 per cent, while Power Finance Corporation stood second by a slight margin with a rise of 241 per cent. During this period, the price of shares of railway finance company IRFC increased by 197 percent. This means that in 2023, these 3 government shares gave triple income to the investors.
These shares became 150-200 percent stronger
In addition to these year 2023 During the period, the share price of Mazagon Dock Shipbuilders rose by 195 per cent, while that of NLC India went up by 193 per cent. Share prices of ITI Limited, IRCON International, SJVN, Rail Vikas Nigam Limited and Cochin Shipyard rose by 154 per cent to 190 per cent.
Multibagger returns of these shares also
Shares of Mangalore Refinery and Petrochemicals, Bharat Heavy Electricals, Hindustan Aeronautics, Housing and Urban Development Corporation, Hindustan Copper, Engineers India and NBCC also managed to give multibagger returns in 2023. This means that these shares rose by at least 100 percent during the year. Apart from these, shares like Mishra Dhatu Nigam, Bharat Dynamics, NTPC, Oil India and Bharat Electronics managed to rise by 80-90 percent. This year, among the 55 government shares listed on BSE, only one share, Gujarat Gas, has given negative returns, whose price has declined by 7 percent.
read this also: These are the 10 most amazing IPOs of 2023, which gave at least 100% returns to investors.
