Benchmarks slip, but end 2023 with up to 20% gains; SmallCap index up 47%

Closing Bell on December 29, 2023: The BSE Sensex is ending calendar year 2023 with a solid gain of 18.8 per cent, and the Nifty50 with 20.1 per cent

Stock market highlights: Investors booked profit on the last trading session of 2023 with an aim to avoid any potential global risks over the weekend. The S&P BSE Sensex slipped 170 points, or 0.23 per cent, to end at 72,240. The Nifty50, on the other hand settled at 21,731, down 47 points or 0.22 per cent. 

Nonetheless, the BSE Sensex is ending calendar year 2023 with a solid gain of 18.8 per cent, and the Nifty50 with 20.1 per cent.

Among individual stocks, shares of Tata Motors hit a new peak at Rs 801 as they rallied 6 per cent on the BSE in Friday's intraday trade backed by heavy volumes. Thus far in the calendar year 2023 (CY23), Tata Motors has seen its market price more-than-double, zooming 107 per cent on thr bourses. READ MORE

Overall, 48 of 50 Nifty stocks gave positive returns to investors in CY-2023.

Meanwhile, on Friday, Tata Motors (up 3.3 per cent), Tata Steel, Bajaj Finance, HUL, Nestle India, Wipro, Ultratech Cement, and Maruti Suzuki ended as the top gainers on the BSE Sensex. 

SBI, Infosys, Titan Company, Tech M, IndusInd Bank, ICICI Bank, NTPC, HCL Tech, Axis Bank, Reliance Industries, Power Grid, and Kotak Bank were the top laggards, down up to 1.4 per cent. 

The broader markets, on the contrary, ended in the green with the BSE MidCap and Smallcap indices advancing 0.85 per cent and 0.69 per cent, respectively.

For the outgoing calendar year, the BSE MidCap index has zoomed 45.15 per cent, and the BSE SmallCap index has soared 47.2 per cent.

3:49 PM

Tech View :: 'Nifty to hold 21,300 in case of any further dip'

We may see further consolidation in the index and it would be healthy after the recent surge. We expect Nifty to hold the 21,300-21,500 zone in case of a dip during consolidation and reiterate our positional target of 22,150 level. Participants should stay focused on the selection of stocks and prefer index majors.

Views by: Ajit Mishra, SVP - Technical Research, Religare Broking

3:44 PM

Comment ::'Market euphoria expected to continue during the start of 2024'

The market witnessed mild profit booking on the last trading day of the year. Still, the euphoria is expected to continue during the start of the next year on account of the exuberance of rate cuts and the drop in bond yields.

Oil prices, on the other hand, fell by 10% during the year, which could ease inflationary pressure and support the operating performance of the corporates.

We feel that though the outlook on broader indexes is moderate in the short to medium term, the large caps will maintain their vibrancy due to strong earnings growth and in anticipation of the continuation of premium valuation.

Views by: Vinod Nair, Head of Research at Geojit Financial Services.

 

3:42 PM

SmallCap Heatmap :: Index up 0.69% Friday; surges 47% in 2023

3:41 PM

MidCap Heatmap :: Index rises 0.85% Friday; ends 2023 with gains of 45%

3:39 PM

Nifty Heatmap :: Tata Cons, Tata Motors zooms on Friday; BPCL lags

3:38 PM

CLOSING BELL :: Nifty holds 21,700 at close

3:36 PM

CLOSING BELL :: Sensex slips 170 pts on last trading session of 2023

3:29 PM

In charts: Why ICICI Direct sees Nifty hitting 25000 in 2024

"As we embark on CY24, there are green shoots in the form of continued corporate earnings momentum domestically, healthy GDP growth, benign commodity prices outlook as well as likely rate cut globally. Thus, there seem to be more positive than negatives ahead. Amidst this setup, India is in a sweet spot vis-à-vis global peers with macroeconomic stability and corporate earnings in sight. Corporate earnings recovery has been healthy in the recent past with Nifty earnings growing at 22% CAGR over FY20-23. Going forward, introducing FY26E, we expect Nifty earnings to grow at a CAGR of 16.3% over FY23-26E," said Pankaj Pandey, Head-Research, ICICIDirect. READ MORE

3:21 PM

Trent outperforms market for 9th straight calendar year; zooms 127% in 2023

n the previous calendar year 2022 (CY22), the stock price of Trent had appreciated by 27 per cent as against 4.4 per cent gain in the benchmark index. In CY19, the stock had rallied 46 per cent, followed by 31 per cent in CY20, and 55 per cent in CY21. In comparison, the S&P BSE Sensex gained in the range of 14 per cent to 22 per cent during the period. READ MORE

3:07 PM

Global check:: US, UK stock futures trade marginally higher

Source: Investing.com

2:55 PM

Waaree Energies files IPO papers; plans to raise Rs 3,000 cr via fresh issue

Solar panel maker Waaree Energies on Friday filed fresh preliminary papers with capital markets regulator Sebi to raise funds through an initial public offering (IPO). READ MORE

2:44 PM

ALERT:: Power Mech Projects bags orders worth Rs 2,192 cr; stock up 4%

Power Mech Projects has won two orders totalling Rs 2,192.41 croore. Meenakshi Energy has issued an order worth Rs 674.81 crore for revival & operations and maintenance services at coal fired power plant in AP. Second order is worth Rs 1,517.60 crore for mining of river bed mineral (RBM) located in river bed of  Dehradun, Haridwar, Udham singh Nagar and Nainital Districts.

2:33 PM

Voda Idea rallies 19%, hits highest level since Jan 2022 on heavy volumes

Shares of Vodafone Idea (Vi) surged 19 per cent on Friday to hit the highest level in nearly 2 years. The stock touched Rs 15.80 on the BSE on heavy volumes. This was its highest level since January 10, 2022. READ MORE

2:22 PM

Power Grid board approves raising Rs 2,200 cr via bonds; stock marginally down

State-owned Power Grid Corporation board on Friday approved raising of Rs 2,200 crore through bonds. The base issue size is Rs 500 crore with a greenshoe option of Rs 1,700 crore, the the filing added. 

2:09 PM

GE T&D India bags 74 million pound order from GE group's British arm; stock hits 5% upper limit

Both the entities are part of GE Group and this related party transaction has been approved by shareholders in last annual general meeting held on August 21, 2023. READ MORE