As the final market day of FY23-24 concluded, Indian markets experienced one of their best years, with the Nifty ranking among the top-performing markets in Asia, yielding nearly 29% USD return (second only to Japan). Conversely, China and Hong Kong faced significant underperformance.
On Tuesday, 1414 stocks advanced, 2545 declined and 141 remained unchanged, on the Bombay Stock Exchange (BSE) with an advance decline ratio of 0.55 indicating negative closing of stocks in broader markets.
As the curtains draw on the trading year, the market experienced mild profit booking on the final trading day. However, the prevailing optimism is anticipated to spill over into the new year, buoyed by the excitement surrounding rate cuts and the decline in bond yields.
On Wednesday, 1993 stocks advanced, 1815 declined and 106 remained unchanged, with an advance decline ratio of 0.20 on the Bombay Stock Exchange (BSE), indicating deeply negative closing of stocks in broader markets.