Mumbai: Indian equity investors’ wealth surged by Rs 81.90 lakh crore in 2023. In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73%. Yesterday was the last trading session of the year. Equity benchmark indices declined yesterday as investors preferred profit-taking after the recent sharp rally. The BSE Sensex fell 170.12 points or 0.23% to settle at 72,240.26 on Friday. NSE Nifty declined 47.30 points or 0.22% to settle at 21,731.40 on Friday.
Investors became richer by more than Rs 16.38 lakh crore in 2022. The BSE Sensex had ended 2022 with an annual gain of 4.44% or 2,586.92 points .
The market capitalisation (m-cap) of BSE-listed companies climbed sharply by Rs 81,90,598.32 crore this year to reach an all-time high of Rs 3,64,28,846.25 crore. On November 29 this year, Indian equity markets achieved a feat as the combined market valuation of all listed companies on Bombay Stock Exchange (BSE) reached the USD 4 trillion-milestone for the first time. The m-cap of all listed companies on the BSE touched the USD 3 trillion-mark on May 24, 2021.
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As per market experts, the strong macroeconomic fundamentals, political stability owing to the BJP’s success in recent elections, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation supported the stock market rally in 2023.
‘India’s strong macroeconomic fundamentals, marked by robust GDP growth, moderating inflation, and a stable rupee, played a crucial role in this resilience. This, coupled with improving global conditions like softening inflation, central bank pauses on rate hikes and continued earnings growth, led to a market rally across Indian indices,’ Sampath Reddy, Chief Investment Officer at Bajaj Allianz Life Insurance, said.
The BSE Sensex reached its all-time high of 72,484.34 on December 28 after hitting a 52-week low of 57,084.91 on March 20, this year. The BSE Sensex index made monthly gains in eight while it fell in the remaining four during the year. The 30-share BSE benchmark jumped 4.87% in November while in December, it rallied 7.83%.
The BSE smallcap gauge jumped 13,746.97 points or 47.52% this year while the midcap index climbed 11,524.72 points or 45.52%.
Reliance Industries is the country’s most valued firm with a market valuation of Rs 17,48,827.92 crore, followed by Tata Consultancy Services (Rs 13,88,591.70 crore), HDFC Bank (Rs 12,97,972.04 crore), ICICI Bank (Rs 6,98,965.47 crore) and Infosys (Rs 6,40,351.80 crore) in the top-five order.
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