The domestic equity market of India rapidly increased with Rs 41,372 crore being collected in December 2023 up from the November collections which represented an increase of over one-third. In the backdrop of a very slow global economy, India stands out with Nifty and Sensex gaining by 7.9 percent and 7.8 percent in December respectively as SEBI reported in its last bulletin for this month.
India stands out a lot in the global economic setting.
India is the stand-out performer among BRICS nations with its Nifty Index rising by 7.9 percent as against Brazil (which rose by) 5.4 percent and South Africa which also saw an increase of (1.8 percent). The global optimism based on hopes of rate cuts by the world central banks has facilitated India’s being a show standard in the international financial system.
Yet, it should be noted that at present China’s SSE Composite Index stays on the same level as it was five years ago.
Using Google Finance statistics, the index on March 1, 2019, was very high compared to where it stands today in January.
While citing the World Bank’s Global Economic Prospect, which shows that although the global economy is likely to grow by 2.4 percent in the next year of 20Monies developing countries will achieve this at a rate of growth of 39 percent.
The Comparison of the Indian Bond Yields to Other Countries.
Most importantly, the bond yields in India were at 7.2 per cent showing an investment-friendly environment than most other BRICS nations.
Among the BRICS nations, at the end of December 2023, Russia reached its highest standing at 12.3 percent.
Demat Accounts and Foreign Investments Grow Rapidly
There was an increase in the number of demat accounts on the Indian market; NSDL added 4.3 lakh and CDSL, 37.5 lakh accounts in December with year-end month ending period As on end of December, demat accounts reached 3.46 crores with NSDL and ten point four seven core by CDSL according to Sebi bulletin.
Foreign Portfolio Investors (FPIs) maintained their optimism, registering a net inflows of Rs 84,537.43 crore in December 2023. Equities funds were invested in a total of Rs.66,134.66 crore and Rs 4,247.10 crore in hybrid in December 2023, while the debt segment witnessed a net inflow of Rs 18,302.14 crore.
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