Sunday, July 14, 2024
Advertisement
  1. You Are At:
  2. News
  3. Business
  4. Yearender 2023: How did shares perform, top business news this year

Yearender 2023: How did shares perform, top business news this year

In the year 2023, about 82 percent of Nifty stocks have given positive returns so far this year. The highest rise of 1,291 percent was seen in the shares of Jai Balaji Industries. Apart from this, Geeke Wires saw a rise of 544%, Orionpro Solutions saw a rise of 501%.

Edited By: Ashesh Mallick @asheshmallick07 New Delhi Published on: December 24, 2023 20:30 IST
Yearender 2023, Business yearender, Business news, Business latest updates
Image Source : FREEPIK Representative Image

2023 turned out to be good for stock market investors. There were very few shares in which investors suffered losses. Investors made a lot of money in most of the shares. Some shares jumped up to 1300 percent. About 82 percent of the shares on the National Stock Exchange gave positive returns till December 19 this year. Due to this, NSE Nifty jumped 18 percent so far this year. At the same time, huge money was made in small cap and mid cap shares. The Nifty Smallcap 250 index jumped 46 percent so far this year. At the same time, Nifty Midcap 100 index jumped 42 percent.

Rise came despite several challenges

From the global market perspective, the rise in the Indian market is an exception. This year, there were many such factors like Russia-Ukraine war, Israel-Hamas war, worldwide inflation, rise in crude oil prices, high level of US 10 year yield and reduction in consumption, which caused the market to fall. Despite this, there was good growth in the Indian market.

Shares that gained the most

Shares of Jai Balaji Industries saw the highest rise of 1,291 per cent. Last year on December 30, this share was at Rs 54.70. Now this share has reached Rs 755. This was followed by S&S Power Switchgear 616 per cent, Geeke Wires 544 per cent, Orionpro Solutions 501 per cent, Inox Wind Energy 398 per cent, Servotech Power Systems 384 per cent, Thomas Scott (India) 371 per cent, Titagarh Railsystems 369 per cent, JITF Infralogistics has gained 363 per cent, Ashapura Minechem has gained 351 per cent, and Eimco Elecon (India) has gained 395 per cent.

Good signs ahead for these sectors

According to brokerage firm HDFC Securities, the Nifty-50 index has limited upside potential in the next 12 months. According to the brokerage firm, next year, large cap banks, industrial and real estate, power, auto, pharma, OMCs, gas and capital markets may see a rise.

India's foreign exchange reserves continue to rise. In the week ending December 15, the country's foreign exchange reserves have increased by USD 9.11 billion to USD 615.97 billion. The Reserve Bank of India (RBI) gave this information. According to Bhasha news, in the last week from December 15, the total foreign exchange reserves of the country increased by USD 2.816 billion to USD 606.85 billion.

The sale of gold and other precious metal jewellery is at a rapid pace in the country. It is estimated that jewellery sales may register an increase of 10-12 percent in the financial year 2023-24. Rating agency ICRA said this in a report on Friday amid the rise in gold prices. According to Bhasha news, the forecast of growth in value in domestic jewellery sales during the financial year has been increased from 8-10 percent to 10-12 percent.

Meanwhile, Foreign direct investments into India is likely to gather momentum in 2024 as healthy macroeconomic numbers, better industrial output as well as attractive PLI schemes will attract more overseas players amid geopolitical headwinds and tighter interest rate regime globally.

To ensure that India remains an attractive and investor friendly destination, Department for Promotion of Industry and Internal Trade (DPIIT) Secretary Rajesh Kumar Singh said the government reviews FDI policy on an ongoing basis and makes changes from time to time after having extensive consultations with stakeholders.

(With inputs from agencies)

Advertisement

Read all the Breaking News Live on indiatvnews.com and Get Latest English News & Updates from Business

Advertisement
Advertisement
Advertisement
Advertisement