Stock Market Recap Report-December 2023

Nifty 50 scaled new peaks, ending the year at a stunning 21,731, despite a blip on December 20th.

Stock Market Recap Report-December 2023

Monthly Market Snapshot

December 2023 was a parade of record highs for Nifty 50.  It scaled new peaks, ending the year at a stunning 21,731, despite a blip on December 20th. This relentless climb marked India's eighth consecutive year of market gains, setting the stage for an exciting 2024.

Key Market Movements‌‌

  • The month started with the market riding high on positive sentiments and started closing at record highs, fueled by gains in IT, consumer goods, and infrastructure sectors
  • The second half of December witnessed a sudden correction, however, the last few days of December saw a cautious recovery, with the market ending on a positive note.

Indian Stock Market in 2023

Looking back at 2023, the Indian stock market can be summed up as a year of resilience and achieving key milestones. Despite facing intermittent bouts of volatility, the market delivered robust returns with major indices seeing significant gains.

Key Highlights:

  • Nifty 50 achieved nearly 20% returns, touching an all-time high in December 2023.
  • Mid-cap and small-cap indices outperformed, with Nifty Midcap 100 jumping over 44% and Nifty Smallcap 100 surging 54%.

Here is a summary of the performance of the Investmint models in December 2023, incorporating the annual returns as well.

Leaders and Laggards


  • In December, both ‘BTST’ and ‘Nifty Rider’ were the best-performing models, with an impressive returns of +11.14% and 10.90% respectively.
  • Looking at the broader picture, 'Alpha Ally' and 'Quick Short' stood out as the best-performing models for the entire year of 2023, delivering remarkable gains of +72.33% and 59.53%, respectively.


  • NLCINDIA, or NLC India Ltd, yielded a monthly return of 41.44%, while RAITEL, or RailTel Corporation of India Ltd, generated a return of 22.27%. Both of these stocks were part of 'Alpha Ally' model.
  • On the contrary, RATNAMANI, or Ratnamani Metals and Tubes Ltd, was the underperformer with negative return of 12.40% as part of 'Alpha Ally' model, followed by JINDALSAW, or Jindal Saw Limited, with negative return of 11.96%, as part of the 'Sector Superstars' model.

As we welcome 2024, let's not only celebrate the successes of the past year but also toast to the opportunities that lie ahead.

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Disclaimer: The opinions expressed in this blog are personal views and should not be considered financial advice. Please do your own research and consult with a professional before you make any investment decisions.