Markets gain nearly 20% in 2023, fall on final trading day

Mumbai: Equity indices Sensex and Nifty declined on the last trading day of 2023 as investors preferred profit-taking after the recent sharp rally, wrapping up a record-setting year with benchmarks surging by up to 20 per cent.

After a five-day winning run, selling pressure emerged in energy, banking and IT counters on Friday, which dragged indices lower, traders said.

The 30-share BSE Sensex fell 170.12 points or 0.23 per cent to settle at 72,240.26 after a weak beginning to the trade. During the day, it dropped 327.74 points or 0.45 per cent to 72,082.64.

The wider gauge Nifty declined 47.30 points or 0.22 per cent to settle at 21,731.40. In intra-day trade, the index slipped 101.8 points or 0.46 per cent to 21,676.90.

In 2023, the BSE benchmark jumped 11,399.52 points or 18.73 per cent, and the Nifty climbed 3,626.1 points or 20 per cent.

Among the Sensex firms, State Bank of India, Infosys, Titan, Tech Mahindra, IndusInd Bank, NTPC, ICICI Bank, Power Grid, Reliance Industries and Kotak Mahindra Bank were the major laggards. On the other hand, Tata Motors, Nestle, Hindustan Unilever, Tata Steel, Bajaj Finance and UltraTech Cement were among the gainers.

In the broader market, the BSE midcap gauge climbed 0.85 per cent, while the smallcap gauge jumped 0.69 per cent.

Among the indices, oil & gas fell by 1.10 per cent, bankex went lower by 0.53 per cent, IT declined by 0.46 per cent, teck dipped by 0.38 per cent, consumer durables (0.07 per cent) and financial services (0.05 per cent). Telecommunication jumped 2.84 per cent, auto climbed 1.17 per cent, services (1.06 per cent), FMCG (0.86 per cent) and consumer discretionary (0.77 per cent).

The rupee paired all its early gains to end on a flat note at 83.20 against the US dollar amid increased month-end dollar demand from importers and volatile crude oil prices.