Indices end FY24 on a high; Nifty jumps 29%

INDIAN STOCK MARKETS closed on a high on the last trading session of FY24 on Thursday, with both the Sensex and Nifty rising almost 1%. Overall, bulls continued to dominate bourses the in FY24, despite geopolitical tensions and inflation continuing to be sticky for most part of the year.

- VIVEK KUMAR M JOYDEEP GHOSH

The Nifty closed at 23,326, up 0.92% or 203 points, while the Sensex, after hitting 74,000 points, closed at 73,651, up 0.90% or 655 points.

In FY24, the Nifty 50 jumped 29% to close the year at 22,326.90 points, and the Sensex ended with 25% gains at 73,651.35 points.

WHILE THE NIFTY'S returns was the highest in 14 years, barring FY21 when fears of the pandemic led to huge volatility, the Sensex's returns was the best in almost a decade. The mid-cap and small-cap indices, despite some concerns from the regulator, the Securities and Exchange Board of India (Sebi), and mutual fund managers also performed exceptionally well, soaring around 60% each - the highest in 14 years. As a result, investor wealth went through the roof, up 128.7 trillion-the highest ever in absolute terms.