In the opening session of the New Year 2024, equity benchmark indices saw a decline, driven by profit-taking activities following the recent robust rally and a lack of discernible trends in global markets.
Throughout 2023, the BSE benchmark witnessed a remarkable surge, gaining 11,399.52 points or 18.73%, while the Nifty recorded a climb of 3,626.1 points or 20%.
On the first trading day of 2024, the 30-share BSE Sensex experienced a dip of 207.29 points, settling at 72,032.97 after an initially subdued start. Simultaneously, the Nifty saw a decrease of 46.65 points, closing at 21,684.75.
Major laggards among the Sensex firms included Hindustan Unilever, Mahindra & Mahindra, Wipro, Axis Bank, Tata Consultancy Services, NTPC, HDFC Bank, and Kotak Mahindra Bank. On the positive side, Tata Motors, Nestle, IndusInd Bank, and Power Grid emerged as winners.
With Asian markets closed for the New Year, US markets concluded slightly lower on Friday.
The global oil benchmark, Brent crude, experienced a 0.14% decline, reaching $77.04 per barrel.
Exchange data revealed that Foreign Institutional Investors (FIIs) made equity purchases totaling Rs 1,459.12 crore on Friday.
Closing out 2023, the BSE benchmark fell 170.12 points or 0.23% to settle at 72,240.26, while the Nifty declined by 47.30 points or 0.22%, concluding at 21,731.40 on the last trading day of the previous year.