Market Outlook: The market remained profitable even in the last week, 20% rise in 2023, know how the beginning of the new year will be!

If we look at it in terms of the entire year, Sensex and Nifty have strengthened during this period. Made new records many times. During the year, the Sensex not only crossed the level of 70 thousand points for the first time, but also reached near 72,500 points. Nifty also crossed the 20 thousand mark for the first time and reached the threshold of 22 thousand points. In the entire year, Sensex strengthened by 11,072 points (18.10 percent) and Nifty strengthened by 3,534 points (19.42 percent).

There is good momentum in the market

After this spectacular rally, now the new year is about to begin. The first day of the year i.e. 1 January 2024 is falling on Monday. In this way the year is starting with business from the first day. There is good momentum in the market. During the last eight-nine weeks, the market has gone up on most occasions. Global markets remain positive. Crude oil is at its lowest level in almost 3 years.

These factors can also have an impact

Sales figures of vehicle companies will come during the first week of the year. The result season of companies for the third quarter of the current financial year is also about to begin. During the week, details of the December meeting of the US Central Bank Federal Reserve will be released. These factors may have an impact on the movement of the domestic stock market during the first week of the new year.

Disclaimer: The information provided here is being given for information only. It is important to mention here that investing in the market is subject to market risks. As an investor, always consult an expert before investing money. ABPLive.com never advises anyone to invest any money.