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Sensex Today | Share Market Live Updates: Fueled by the artificial-intelligence boom, stretched positioning and the “fear of missing out,” the S&P 500 soared 24% in 2023, while the Nasdaq 100 had its best year since 1999. Chipmakers saw their biggest annual gain in more than a decade, led by major AI players Nvidia Corp. and Advanced Micro Devices Inc.
The year was marked by the US banking crisis in March, oil supply jitters stemming from the Israel-Hamas war and fears that restrictive Fed policy could tilt the US economy into recession.
Falling interest rates helped spark a remarkable year-end rally, which shifted into overdrive in December when the Federal Reserve opened the door to US interest rate cuts in 2024 after a rate hike campaign that helped bring inflation down toward the central bank’s 2% annual target.
Markets are now expecting the U.S. Federal Reserve to start rate cuts in March, according to the CME FedWatch tool, a shift from assumptions just last month.
Traders are also pricing in more than 150 basis points of easing next year by the Fed, the European Central Bank and the Bank of England.
Chinese markets underperformed in 2023, despite optimism at the start of the year when Beijing ended its zero-COVID policy.
Both Hong Kong’s Hang Seng Index and China’s onshore blue chip index lost more than 10% in the year on waning investor confidence in the world’s second largest economy. Those losses compare to Japan’s Nikkei 225 Index, which gained 28% on the year.
Sensex Today Live: Gift Nifty ticks lower
Gift Nifty trading at 21,776, down 58 points, indicating a weak start for the Indian stock market indices.
On Friday, the Sensex ended lower by 170.12 points, or 0.23%, at 72,240.26, while the Nifty 50 declined 47.30 points, or 0.22%, to settle at 21,731.40.
Sensex Today Live: US markets ended weak on Friday
Global shares pulled back on the last trading day of the year but notched their biggest annual rise since 2019, while U.S. Treasuries finished the year broadly where they started after major swings for the benchmark in 2023.
Shares around the world have risen sharply in the last two months of the year as benchmark bond yields fell on expectations of central bank rate cuts in 2024.
The S&P 500 fell about 0.3% on Friday, just shy of its record closing high reached on 3 January 2022. The Dow Jones Industrial Average and the Nasdaq Composite both dipped on Friday but were 13.7% and 43.4% higher for the year, respectively.
European shares ended 2023 with an annual gain of almost 13% on hopes of softer monetary policy from major central banks next year, while MSCI’s world share index posted a 20% gain, its most in four years.
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