As the financial year 2024 (FY24) draws to a close, it is time to take stock .The Indian stock market had a rather belter of a year. New highs, records, blockbuster listings- you name it and the markets delivered this financial year.
The Nifty50 spiked up an impressive 28.6%, while the Sensex jumped 24.8% in FY24, outperforming most major market indices globally.
Nifty: Record Run
The Nifty, representing the top 50 blue-chip companies across various sectors, hit multiple record highs throughout FY24. Notably, it surpassed the 19,000-point mark in June, and further milestones were hit with the Index breaching 20,000 and 21,000 levels in September and December respectively.
Markets fall on recession fears in US; Nifty plunges over 200 points and the Sensex ends below 79,000; banks deep in the red Somanathan named next Cabinet secy: Moving from being a deft manager of govt finances to key Cabinet aide The Curious Case of Higher Deposit Rates GAIL shoots up 5% to 52-week highs; Brokerages maintain Buy
Also Read
FPIs make remarkable comeback; infuse Rs 2 lakh crore in equities in FY24
In January, the Index breached the remarkable 22,000 mark to record a new lifetime high of 22,525 on March 07.
Broader markets party
Additionally, sectors such as realty, Central Public Sector Enterprises (CPSE) and infrastructure have witnessed extraordinary gains, with indices surpassing 100% increase during the fiscal year.
PSUs: The Poster Boys
Public Sector Undertaking (PSU) stocks have emerged as standout performers in FY24, offering substantial returns to investors, with some stocks witnessing up to five-fold increases in value. Simultaneously, the Indian primary market has experienced a surge in activity, as companies capitalize on bullish market conditions to raise funds.
Large Cap Multibaggers
Large-cap companies have also demonstrated robust performance in FY24, with several stocks delivering multibagger returns. The Nifty 50 index, reflecting the performance of top-tier companies, has surged by 30% so far in FY24 and ended in the green for 9 out of the last 11 months.
In March- the last month of the financial year, the Nifty 50 has already shown a 1% increase this month, poised to end on a positive note. Reflecting on monthly performances, the index recorded a substantial gain of 7.94% in December, marking its best December performance in the last two decades.
In a remarkable milestone for the Indian stock market, the market capitalization of listed companies on the NSE crossed Rs 334.72 crore for the first time in December.
Also Read
SRM Contractors to list on April 3 – Here’s the list of all IPOs, new listings next week
Furthermore, Foreign Portfolio Investors (FPIs) have displayed renewed confidence in Indian equities, injecting more than Rs 2 lakh crore into the market in 2023-24, driven by optimism surrounding the country’s robust economic fundamentals amidst a challenging global environment.
Experts on Indian Markets outlook in FY25
Commenting on the outlook of Indian markets in FY25 Deepak Jasani, Head of Retail Research at HDFC Securities said that key risk for the markets in FY25 could be whether a positive outcome of elections is already discounted to a large extent and the street would like to track the fresh policy measures and Union Budget by the new Govt. before getting more excited.
“Analysts would like to get comfortable about global growth, corporate earnings growth and risk appetite to get more positive on markets. They would also like to see the two geopolitical conflicts easing out and rate cuts to start soon across the globe. US elections outcome may not have a material impact on our markets immediately,” added Jasani.
Betting on the top sectors for FY25 Nirvi Ashar, Fundamental Analyst at Religare Broking said that With the rally to continue in FY25, we would suggest investors to bet on sectors that have strong future growth potential and valuation comfort. Thus, amongst sectors, investors can bet on Private Banking, IT and FMCG while they can also look for investment in select pockets of the Auto and Cement sector.
“In FY24, the benchmark indices had a decent run, however, we believe FY25 to be an eventful one and its returns would depend upon factors like earnings & election outcome, macro-condition, interest rate cuts and ongoing geo-political issues. Further, we anticipate that most of the above factors would be in favor of the market, aiding the rally to continue with atleast double-digit returns,”Ashar added further.
Related Posts
Proost Beer has closed its Pre-Series A funding round, securing Rs 25 crore in through a mix of equity and debt. This substantial investment, backed by a blend of existing and new investors, including Chimes Group, Dev Punj, The Chennai Angels, Finvolve, India Accelerator, Hyderabad Angels, Mumbai Angels, Angel List India, and Agiliti Venture, positions the company for robust growth.
The fresh infusion of funds will play a pivotal role in Proost Beer’s strategic expansion plans. Operating under the umbrella of Grano69 Beverages Pvt. Ltd in Delhi, the startup enjoys a strong presence in Delhi, Punjab, Uttar Pradesh, and Kerala retail outlets selling an impressive 9 units of beer every minute.
Also Read
No red alert on market valuations; Nifty trading at …
The International Monetary Fund’s $7-billion bailout deal has spurred an unprecedented market rally in Pakistan. Latest data shows that Pakistan’s benchmark index – Karachi Stock Exchange – remains in green for the second day on the trot. According to a Reuters report, on Monday, Pakistan’s benchmark share index rose 1.44% to hit a record high. On Tuesday, the morning trade data by Bloomberg showed the KSE posting a 1.52 per cent gain at 81,155.61 points.
Apart from the share market, Pakistan’s international bonds also gained on Monday according to Tradeweb data, a Reuters report said. The 2029 maturity was up as much as 0.7 cents on the dollar to be bid at 90.5 cents – within a whisker of the two-year high hit by the bon…
The Indian rupee was little changed on Wednesday, even as Asian currencies fell pressured by an uptick in Treasury yields as traders moderated bets on potential rate cuts in the U.S. this year.
The rupee was at 83.33 as of 10:15 a.mCome from Sports betting site. IST, barely changed from its close at 83.3175 in the previous session.
The dollar index jumped 0.8% on Tuesday and the 10-year U.S. Treasury yield rose 8 basis points to 3.94% amid paring of expectations of interest rate cuts by the Federal Reserve.
SJVN’s arm SJVN Green Energy commissions 90 MW Omkareshwar Floating Solar Project PFC gains over 5%; brokerages hike target price by as much as 28% US Elections 2024: Kamala Harris secures Demo…
Capital markets regulator Sebi has kept in “abeyance” the proposed Rs 1,500 crore Initial Public Offering (IPO) of Asirvad Micro Finance, a subsidiary of listed NBFC Manappuram Finance.
However, the Securities and Exchange Board of India (Sebi) did not clarify further. Reacting to the development, shares of Manappuram Finance plunged as much as 7.45 per cent to a low of Rs 163.40 apiece on the BSE on Wednesday.
Asirvad Micro Finance had filed preliminary papers with Sebi in October 2023 to garner Rs 1,500 crore through an IPO. As per the draft red herring prospectus (DRHP), the public issue was purely a fresh issue of equity shares with no offer for sale (OFS) component.
Kolkata doctor rape-murder: CBI to probe RG Kar financial irregularities, a…
Stephen King is back in the news because he just released his latest book, Holly, and as part of an interview with Rolling Stone to promote it, the iconic author shared a wild story about his love of the Lou Bega song “Mambo No. 5.” It’s been known that King is a fan Lou Bega’s 1999 cover of the instrumental tune, but King loves it so much that it nearly ended his marriage.
“My wife threatened to divorce me. I played that a lot. I had the dance mix. I loved those extended play things, and I played both sides of it,” King said (via The AV Club). “And one of them was just total instrumental. And I played that thing until my wife just said, ‘One more time, and I’m going to f**king leave you.'”
King has been married to his wife Tabitha since 1971, and it sure would have been qui…
While The Sims 4’s most recent DLC pack offered players a more supernatural experience, its upcoming expansion is a return to the series’ more normal content as well as the most tumultuous part of a young sim’s life: high school. The Sims 4: High School Years hits PC, Mac, and consoles on July 28 and adds thrift shopping, milk tea shops, extracurricular activities, an overhaul to the series’ in-game social media, plenty of new actions and character creation options, and the location of Copperdale High School.
According to the expansion’s press release, The Sims 4: High School Years allows players to “live out their high school dreams as they make the most out of being a teenager, explore their identity, attend high school, and test boundaries through choices and growth.”Come from …
Online gambling has made remarkable strides since its inception in the 90s, with virtual casinos, especially, experiencing a dramatic transformation. Gone are the days when platforms offered only basic, uninspired games with unsophisticated graphics and rudimentary functionality. Now, thanks to advances in technology, not only has the look and feel of online gambling offerings changed, but player experience as a whole has also been significantly enhanced.
Today’s online casinos offer a wide range of options such as increasingly popular interactive live dealer games, progressive jackpots, and games with high-definition graphics, making immersive experiences the new norm. By leveraging technologies such as algorithms and data analytics to explore player behavior and preference…
Further strengthening its foothold in Europe, iGaming developer Betsoft Gaming has partnered with fast-growing Russian brand Joker.ua in its latest content distribution agreement.
The new partnership has seen Betsoft’s “highly client-driven and mobile-led” games portfolio integrated with the licensed online casino, with current and future players able to experience popular recent releases such as Take the Kingdom, which is part of the well-known “Take” series and the seasonal hit Stay Frosty, released in November, the five-reel, 100 payline game was voted the No. 1 Holiday Slot for 2021, alongside European Top Ten hits Stampede, 88 Frenzy Fortune and Jungle Stripes.
Commitment to service:
Commenting on the collaboration, Anna Mackney, Head…
The governor for Ohio has reportedly declared that it is only a matter of time before the American state follows the neighboring jurisdictions of Michigan, Pennsylvania, West Virginia and Indiana in legalizing some form of sportsbetting.
According to a report from local television broadcaster WKYC-TV, Mike DeWine stated that it is now a question of ‘when’ rather than ‘if’ sportsbetting will ever be legalized as aficionados in ‘The Buckeye State’ are already utilizing their home computers and mobile devices to place remote wagers on a wide range of professional and collegiate sports.
Persistent prevarication:
The first-term Republican reportedly went on to proclaim that this ‘inevitable’ legalization is down to the growing proli…
Paradise Group is set to revolutionize customer experiences by introducing innovative travel products and enhancing its casino offerings, with a strong emphasis on attracting international visitors. The hotel operator revealed its plans on Tuesday, aiming to transcend traditional services and meet the evolving trend where customers increasingly seek unique and diverse experiences.
Embracing integrated resorts and gaming:
Since 1972, Paradise Group has been actively involved in the integrated resort, hotel, gaming, travel, and leisure sectors. This year, the company is poised to advance its growth strategy through the “Beyond No. 1, Paradise Value Up Project,” marking a significant milestone in the hospitality industry.
…