FY 2024 Ends on a Cheery Note

The conclusion of FY24 witnessed a remarkable surge in the Nifty and Sensex, both surging close to 1 per cent. This surge was attributed to a common practice among money managers known as ‘window-dressing’, wherein they strategically purchase stocks to bolster their portfolios’ performance before the fiscal year’s end. Adding to the optimism were positive cues from the US markets, notably the S&P 500 index reaching record highs and the Small-Cap Russell 2000 index showcasing gains exceeding 2 per cent.