Sensex, Nifty close FY24 with gains to end on high note

Market ended FY 24 on a high note with Sensex and Nifty-50 returns at 24.85 per cent and 28.61 per cent respectively. The Sensex closed at 73,651.35 gaining 655 points or 0.90 per cent while Nifty-50 closed at 22,326.90 gaining 203.25 points or 0.92 per cent.

In the last trading session of the year Sensex gained 1,194 points intra day to touch a high of 74,190.31 but then saw profit taking in the last hour of trading as it was also monthly derivative contracts expiry day. The Nifty -50 also soared to a high of 22,516 intra-day.

The broader market underperformed with BSE mid-cap index up 0.62 per cent while small-cap index rose 0.33 per cent.

In the last trading session of the year all the sectoral indices closed in the green, led by BSE power (1.69 per cent), capital goods (1.54 per cent). Healthcare (1.18 per cent), auto (1.19 per cent), bankex (0.82 per cent) while the laggard IT index too gained (0.55 per cent).

“FY24 marked a rewarding period for the Indian market. Large caps recorded a substantial 33 per cent return, midcaps surged by 56 per cent, and small caps excelled with an impressive 63 per cent, as indicated by the respective broad indexes. Retail inflows remained robust, supported by direct investments as well as investments through mutual funds. The number of trading accounts held by domestic investors

FY25 IS expected to be a year of mega events, elections to be held in India as well as in key developed economies, clarity on interest rates and inclusion of India in global bond indices.

● reached 16.7 crore, underscoring increased market participation. Additionally, foreign portfolio investors exhibited improved net buying activity, buoyed by India’s economic outperformance relative to other emerging markets experiencing slowdowns,” said Vinod Nair, head - Research, Geojit Financial Services.

Despite market trading at all time highs there is optimism among market participants going forward in FY 24-25 which will see mega events like elections in India and US as well as other countries.

“FY25 is expected to be a year of mega events, elections to be held in India as well as in key developed economies, clarity on interest rates and inclusion of India in global bond indices. India is a preferred destination for foreign flows due to the positive GDP outlook,” said Sanjay Bembalkar, co-head- Equities, Union Mutual Fund.