Sensex Nifty Showing Remain Hopeful In 2023

Sensex Nifty in Indian market performed extraordinary growth through out the year 2022. Experts remain hopeful for the 2023. The over all growth for India after COVID-19 pandemic is more stable compare to global economic growth condition.

The Indian Market benchmark Sensex touches the new record high and Nifty also follow the track. While the recent past has shown little bit correction even those Indices are managed to end the year 2022 with single digit gain. The Sensex gained 5.78% when Nifty followed with gain above 4.3% move up in the calendar year 2022. Sensex and Nifty Touches all time high On 1st December 2022. The Sensex Touched all high at 63,583 and Nifty touched 18, 887 in same day on 1st December.

After gaining a handsome return in 2022 Indian was little pressure due to some profit booking in end of the year. Other concern may lead to further down side in near term, like global growth concern and interest rate regimes.

Sensex Nifty Trend In 2023

According to experts Indian market remain stable in long term, but there are some factors that could effect in the market in near to mid term. The overall growth concern could be one of the major trigger world wide in coming fiscal.

According to Business Today the senior Analyst of LKP Securities, Rupak De explained that Nifty has closed above it’s 50 weeks exponential moving average. The momentum indicator RSI (14) on the weekly chart is in a bearish crossover. The 50 EMA and 200 DMA are in the bullish crossover. The trend for short term is likely to remain bullish as long as it remains above 17,800 for Nifty on a closing basis. On the higher end resistance is visible at 18,350. A decisive move above 18,350 may induce a further rally towards 18,600 /19,000. On the other hand a decisive fall bellow 17,800 may weaken the trend.

Commenting on the market look ICICI Securities explain on a report that they expect market will be on 71,600 level at the end of 2023. They indicating an upside potential of 17% in next 12 month. “Nifty earnings are seen growing at around 15% CAGR in FY 22 to 25. This is primarily driven by improved asset quality and credit growth revival in index-heavy BFSI space, pick up in capex activity and consequent execution in capital goods domain, margin and profit recovery in auto, pharma, FMCG, metal and oil and gas space.” ICICI Security Report explained.

After 2015 Indian market continuously shows strength and within 7 years from 2016 to 2022 market gains in Sensex 34,700 and Nifty 10,000 points up to all time high. This is the longest bull run in the history. Before that market also witnessed a 6 years long bullish strength from 2002 to 2007.

But difference between the two bull run is geopolitical and pandemic environment. Last three years were tremendous challenging amid of COVID-19 pandemic and after that economic struggle in almost all sectors. Geopolitical turmoil continues after Pandemic also with the war situation that lead financial breakdown in many countries like Sri Lanka and also in threatening condition in Pakistan, Bangladesh, China and others lead the global markets in great challenge. In that situation India has managed to stable their financial condition on track and market shows the strength for bullish stand.

Within these gaining streak the best returns has witnessed in 2017 when Sensex and Nifty gained around 28%. Indian markets performed most among the other global markets for the much better management of macros like inflation and also corporate earning that did not disappoint majorly despite challenging times says experts.

Another big reason that India got larger share of FPI funds and due to rising trade, fiscal deficit and pressure in Rupee impacted negatively. Experts demand. In 2020 amid Pandemic situation when FPI were net Buyer of $23 Billion when 2022 was the reversal and net seller of FDI was $16.5 Billion.

Key Factors which could have effects in the markets in FY2023 are State Elections, RBI monitory stance, Inflation trend, Union Budget, Fiscal deficit, Commodity and oil prices globally and economic growth. So, some of the concerns may be developed for further growth in the market is Inflation taming factors, RBI policies and FED rate also.