The year 2023 has ended for the stock market. This year, the market was last traded on Friday, December 29. Now the next session of the market is going to be held in the new year. This year has proved to be very good for the market and a massive rally has been seen in the market. The market also ended the year 2023 with a rise in the last week.
Ending the year on a good note
year 2023 The market remained in a mild correction on the last trading day i.e. 29th December. BSE Sensex closed at 72,240.36 points with a slight loss of 170.12 points or 0.23 percent. Whereas NSE Nifty slipped 47.30 points or 0.22 percent to 21,731.40 points. During the last week of the year, Sensex gained more than 1,150 points (1.62 percent). Nifty gained more than 475 points (2.24 percent).
Before that, during the week ending December 22, the seven-week continuous rally of the domestic market had come to a halt. In the week ending December 22, Sensex fell by 377 points and Nifty50 fell by 107 points. Before that, the domestic market had strengthened by 13-14 percent in the seven-week long rally.
The market became so strong throughout the year
If we look at the whole year, Sensex and Nifty made new records many times during this period. During the year, the Sensex not only crossed the level of 70 thousand points for the first time, but also reached near 72,500 points. Nifty also crossed the 20 thousand mark for the first time and reached the threshold of 22 thousand points. In the entire year, Sensex gained 11,072 points (18.10 percent) and Nifty gained 3,534 points (19.42 percent).
There is good momentum in the market
After this spectacular rally, the new year is about to begin. The first day of the year i.e. 1 January 2024 is falling on Monday. In this way the year is starting with business from the first day. There is good momentum in the market. During the last eight-nine weeks, the market has gone up on most occasions. Global markets remain positive. Crude oil is at its lowest level in almost 3 years.
These factors can also have an impact
Sales figures of vehicle companies will come during the first week of the year. The result season of companies for the third quarter of the current financial year is also about to begin. During the week, details of the December meeting of the US Central Bank Federal Reserve will be released. These factors may affect the movement of the domestic stock market during the first week of the new year.
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