NSE nifty was down 0.21 per cent or 45.45 to 21,733.25 points, while the BSE Sensex was at 72,248.34, down 0.21 per cent or 153.53 points. A total of 3,831 stocks were actively traded, 1,949 advanced, while 1,746 declined and 136 stocks remained unchanged where 312 stocks hit a 52 week high and 16 stocks hit a 52 week low at 2 pm on Friday. 

Dr V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said, “As 2023 draws to a close, the most significant feature of the year’s rally is the sharp outperformance of the broader market. The midcap index is up by almost 45 per cent and the small-cap index is up by 55 per cent leaving the Nifty far behind with an appreciation of around 20 per cent. This trend is likely to be reversed in 2024 since the mid and small caps are overvalued and large caps are relatively fairly valued. 

Autos, construction and financials are set to do well in 2024. Autos are in a cyclical rebound, financials are fairly valued even after the recent run up and the prospects for construction related segments continue to look good. Capital goods will continue to do well in 2024 too. 

January is normally a poor month for the market. Q3 results and management commentary will be keenly watched by the market.”

Top gainers on the NSE at 2 pm - Tata consumer products Ltd (3.77%), Tata motors Ltd (3.86%), Eicher motors Ltd (0.66%), Maruti Suzuki India Ltd (0.49%)

Top losers on the NSE at 2 pm include- Bharat Petroleum Corporation Ltd (-3.31%), kotak Mahindra Bank Ltd (-1.25%), State Bank of India (-1.57%), Apollo hospitals enterprise Ltd (-1.18%), Power grid corporation of India Ltd (-0.77%)

BSE midcap was up by 0.51 per cent and BSE smallcap up by 0.58 per cent, indicated gains

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