2023-12-29 02:39:04
As 2023 comes to a close and we step into 2024, it is a time for reflection and renewal. It is a natural occurrence for one year to end and a new one to begin, and with that comes an opportunity to change our habits, renew ourselves, and reform our investments.
The financial markets have seen significant growth in the year 2023. The Sensex, which started the year at around 57,000 points, has crossed 72,410 points, showing an 18% growth. Mutual fund companies have also seen a 16.6% increase in the value of assets under management, and the monthly investment amount through SIP has surged to Rs.17,073 crore. As a result, stock market and mutual fund investors have reaped significant profits.
However, it is important to remember that the stock market is not always bullish. Many experts are warning that the market is likely to experience a downturn, with stock prices currently at very high levels. In the face of this, investors are advised to hold onto stocks with good fundamentals and sell those with poor fundamentals if their prices fall. Averaging over stocks with bad fundamentals in a market downturn is a mistake that should be avoided, and instead, focus on investing in stocks that are likely to grow in the future.
Proper investment is key to multiplying our wealth, and avoiding common investment mistakes can help protect our assets. As we enter the new year, it is important to review our investment strategies and ensure that they are not only profitable in 2024, but also safeguard against potential losses.
In addition to investing, it is crucial to find ways to reduce debt, increase income, and build wealth in the new year. Coin Money wishes all our readers, advertisers, agents, and investors a Happy New Year, and encourages everyone to take the opportunity to make positive changes in their financial lives in 2024.
– Teacher
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