FROM 1,000 to 70,000 IN A TIMELINE 

Published By MintGenie Team | 11 Dec, 2023

Market Milestones

Indian markets reach significant milestones with Sensex hitting 70,000 and Nifty 50 above 21,000, reflecting continued bullish trends.
Credit : PIXABAY

Market Surge

Sensex surged 232 points to reach 70,057.83, marking the 5th peak in December. Meanwhile, Nifty50 reached 21,026.10, up by 57 points in intraday trading.
Credit : PIXABAY

Factors Driving Growth

RBI's policy decisions, foreign investor inflows, strong macro data, state election results, falling crude oil prices, and global market trends contribute to market upsurge.
Credit : PIXABAY

GDP and Inflation Forecasts

RBI raised the FY24 GDP forecast to 7%, maintaining the CPI inflation forecast at 5.4%, emphasizing a focus on the economy's growth momentum.

Market Commentary

V K Vijayakumar notes positive market trends driven by strong economic fundamentals, retail investor enthusiasm, IPO market strength, and growth projections.

Market Performance

Sensex gained over 4% in December with negative returns in only one session. It registered an overall 15% increase in 2023 YTD and 12% over the last year.
Credit : PIXABAY

Sensex Journey

Recapitulation of Sensex milestones from its inception in 1986 to hitting 70,000 in 2023, showcasing its growth and historical landmarks.
Credit : PIXABAY

Investment Advice – Technical Analysis

Sameet Chavan suggests caution due to overbought signals, advising strategic trade placement, risk management, and selective approaches for traders.
Credit : PIXABAY

Market Outlook – Macroeconomic Drivers

Axis Securities emphasizes macroeconomic factors such as FOMC meeting outcomes, US bond yields, dollar index, and crude prices influencing market volatility.