Brief by Shorts91 Newsdesk / 05:36am on 01 Dec 2023,Friday Business
The NSE Nifty 50 index surged to a new record high, reaching 20,238.45, a 0.52% increase, while the S&P BSE Sensex rose 0.44% to 67,286.16, driven by faster-than-expected economic growth in India's September-quarter, expanding at 7.6%. Analysts, including Pramod Gubbi from Marcellus Investment Management, cite positive growth outlook, government capex initiatives, and the perception of the US interest rate cycle peaking as contributing factors. November marked the best month for Nifty and Sensex in 2023, propelled by foreign portfolio investor inflows. Analysts anticipate a potential market rally with a decisive BJP win in state elections, reinforcing 2024 prospects.
