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

Models:

• 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.

Stocks:

• 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.

Like getting updates? Never miss a beat by getting instant updates on your holdings by syncing your portfolio with Investmint.

Reads On the Internet

India raises windfall tax on crude by Rs 1,000; removes taxes on diesel, ATF

Windfall taxes of 50 paise per litre and one rupee per litre applied to diesel and ATF, respectively, which have now been eliminated. These revised rates came into effect on January 2, 2024.

Adani Hindenburg Case Verdict: SC asks SEBI to finish probe in 3 months, says no ground to transfer case to CBI

The Supreme Court has instructed SEBI to conclude its investigation into allegations against the Adani Group within three months

Maruti retail sales of 230,000 plus in December, highest in history: Shashank Srivastava

Yes, it is actually very successful from an industry point of view. The total wholesale was only about 287,900 against retail which is now estimated to be about 443,000.

Paras Defence usually treads in non-competitive zones and creates a niche: Amit N Mahajan

Paras Defence is currently focussing on the domestic market because it is not just that the domestic market is the biggest market, but it also has a preferential procurement policy in favour of companies like us.

Reliance Jio may get approval to launch satcom services soon

Mukesh Ambani-led telecom operator to launch its satellite-based gigabit fibre services in India, people aware of the matter said.

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.