By Siddhartha Khemka
In Samvat 2079 Indian equities touched the milestone of 20,000 in Sep’23 and ended the year (24th Oct 2022 – 30th Oct 2023) on a healthy note. Nifty-50 made a new high of 20,222 mark and gained 9% during the Samvat 2079. Nifty Midcap 100/Nifty Smallcap 100 sharply outperformed, rallying 26%/31% respectively. Resilient economic conditions, healthy corporate earnings, six straight months of FII inflows (Mar-Aug’23), all-time high SIP flows, and notable retail participation drove the overall market performance. Further, moderation in inflation and expectations of peak-out of global interest rates in the last few months supported equities.