- Not only did the wider markets have healthy gains in 2023, but they also surpassed the benchmark, with the Nifty Mid cap index rising by more over 50%. The largest mid-cap gainers were PFC and REC IRFC, both of which saw returns of over 200%. Nifty Bank increased for a third year in a row, although its 12.34% gain was somewhat below average. With the exception of Adani Enterprises and UPL, every Nifty 50 stock had positive returns.
- Both the Indian and global equity markets found 2023 to be intriguing, as stated by Pranav Haridasan, the MD and CEO of Axis Securities. Although the year began with low expectations and significant volatility in the first few months, the Indian market saw an incredible turnaround in the second half from its March 2023 low.
- In 2023, the benchmark indices Sensex and Nifty saw gains of approximately 18.74% and 20.03%, respectively. For the eighth year in a row, the market ended the year in the black. With the exception of 2021, when indexes enjoyed exceptionally high increases following the relaxation of COVID limits, the benchmark indices’ notable 18–20% gains over the previous six years rank among the greatest.
- Public sector initiatives were the main beneficiaries, while NTPC was one of the top five Nifty gainers among Nifty Stocks Coal India. The NIFTY PSE Index and Nifty Realty Index both recorded rises of more than 80%, and real estate companies followed suit. Auto two-wheeler equities, such as those of Hero MotoCorp and Bajaj Auto, have also seen significant gains, with their share prices soaring by 51% and 88%, respectively.
