In December 2023, the Indian stock markets experienced a notable upturn, as seen by a 7.94 per cent surge in the Nifty 50 index. While all the major indexes gave positive returns in December 2023, The Nifty Next 50 index outperformed, leading the gains with a growth of 11.09 per cent, according to data analysed by Motilal Oswal.
Nifty Smallcap 250 and Nifty Midcap 150 rose by 5.96 per cent and 6.98 per cent respectively, continuing their positive momentum.
Across the board, all sector indices closed the month on a positive note. The energy sector emerged as the top performer, witnessing a substantial increase of 14 per cent.
In the US, S&P 500 and NASDAQ 100 both experienced four and five per cent gains in December 2023 respectively, with the Information Technology sector being the largest contributor to the S&P 500’s rise. Globally, both emerging and developed markets saw positive performance, except China, which showed a negative 2.5 per cent. Brazil, South Africa and Korea, witnessed an increase of 6 per cent in December 2023.
Crude oil prices nosedived 6 per cent during December due to rising geo-political risks, low demand from the US and mixed Chinese data. On the commodities front, gold prices witnessed a rise of ~2% and silver saw a decline of 5%, amid rising tensions in the Middle East. Cryptocurrencies like Bitcoin and Ethereum soared at 12% and 11%, respectively.
First Published: Jan 05 2024 | 12:22 PM IST