Wednesday, April 17, 2024

All in a year: Equity market investors turn richer by Rs 81.90 lakh crore in 2023

Date:

New Delhi: In a memorable year for the equity market, Dalal Street investors added a whopping Rs 81.90 lakh crore to their wealth in 2023 as a raft of positive factors powered a stellar rally in stocks.

Experts said India’s strong macroeconomic fundamentals, political stability owing to the BJP’s success in recent elections in three significant states, optimistic corporate earnings outlook, signals from the US Federal Reserve about three prospective rate cuts next year and heavy retail investors participation played a major role in fuelling the stock market rally in 2023.

In the year 2023, the 30-share BSE Sensex jumped 11,399.52 points or 18.73 per cent.

The market capitalisation 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.

The Indian market has demonstrated resilience, emerging as one of the standout performers within the broader emerging markets basket, Sunil Nyati, Managing Director of Swastika Investmart Ltd, said.

According to him, 2023 is not just a good year for the Indian stock market but also a triumph for retail investors.

“Retail investors, no longer prone to panic during corrections, are confidently holding onto their investments, ready to ride the wave of India’s economic ascent,” he added.

Indian equities added another feather to its cap as the combined market valuation of all listed companies on the leading stock exchange BSE reached the USD 4 trillion-milestone for the first time ever on November 29 this year.

Investors became richer by more than Rs 16.38 lakh crore in 2022. The BSE barometer had ended 2022 with an annual gain of 4.44 per cent or 2,586.92 points.

PTI

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