Sensex, Nifty rise 4% each in 2022; here’s what to expect in 2023

Indian benchmark indices ended 2022 connected a affirmative note, clocking implicit 4% gains each amid highly volatile planetary markets. Sensex gained 2,587 pts oregon 4.44% successful 2022. Sensex, which closed astatine 58,253 connected December 31, 2021, ended astatine 60,840 level connected December 30.  

Nifty has climbed 751 pts oregon 4.33% successful 2022. Nifty ended 2022 astatine 18,105 contiguous against the adjacent of 17,354 connected December 31 past year. During 2022, Sensex deed an all-time precocious of  63,583 connected December 1. Nifty excessively deed its grounds precocious of 18,887 successful the aforesaid session. 

However, indices were affected by the rising involvement complaint regimes and planetary maturation concerns, which trimmed gains successful the year-end.   

Commenting connected the outlook of the marketplace successful 2023, Rupak De, Senior Technical Analyst astatine LKP Securities said, "Nifty has closed supra its 50-week exponential moving average. The momentum indicator RSI (14) connected the play illustration is successful a bearish crossover. The 50 EMA and 200 DMA are successful the bullish crossover. The inclination for the abbreviated word is apt to stay bullish arsenic agelong arsenic it remains supra 17,800 connected a closing basis. On the higher end, absorption is disposable astatine 18,350. A decisive determination supra 18,350 whitethorn induce a further rally towards 18,600/19,000. On the different hand, a decisive autumn beneath 17,800 whitethorn weaken the trend." 

BSE midcap and smallcap indices person risen 1.38% oregon 344.42 points and fallen 1.80% oregon 531 points, respectively successful 2022. 

Also Read: Sensex astatine 71,600 successful 2023? 11 themes that ICICI Securities is betting large on

Market headdress of BSE-listed firms zoomed by Rs 16.44 lakh crore successful 2022. The marketplace headdress of BSE-listed firms surged to Rs 282.44 lakh crore contiguous against Rs 266 lakh crore connected December 31, 2021 

Meanwhile, ICICI Securities sees Sensex astatine 71,600 level by December 2023, indicating an upside imaginable of astir 17 per cent successful the adjacent 12 months. For Nifty, the brokerage has a people of 21,500 level. 

“Nifty net are seen increasing astatine astir 15 per cent CAGR successful FY22-25. This is chiefly driven by improved plus prime and recognition maturation revival successful index-heavy BFSI space, pick-up successful capex enactment and consequent execution successful superior goods domain, margins & nett betterment successful auto, FMCG, metals, pharma and lipid & state space,” ICICI Securities said successful a report. 

In presumption of sectoral losers, the BSE IT scale tumbled 24.24 per cent oregon 9,172 pts successful 2022. BSE Consumer Durables scale was down 11.27 per cent oregon 5046 pts portion healthcare scale mislaid 12.10 per cent oregon 3172 pts. 

Top sectoral gainers were BSE Power and BSE PSU indices which roseate 25.84% oregon 899 pts and 23.05 per cent oregon 1,876 pts, respectively. 

Joseph Thomas, Head of Research, Emkay Wealth Management said, "The Fed policy, the consequences that it whitethorn person for planetary maturation and the reports emanating from China person been factors that are of effect to the markets. The markets whitethorn proceed to stay volatile and whitethorn commercialized with a downside bias, successful the contiguous term.” 

Also Read: Stocks to bargain successful 2023: Trent, Astral, Federal Bank, Rites, MAS Financial are Axis Securities’ apical picks