The Nifty 50, a key player in the domestic equity scene, achieved a fresh record high of 20,612.70 during intraday trade on Monday, December 4. This surge followed widespread buying activities, sparked by the Bharatiya Janata Party’s triumphs in three significant states. The victories have kindled optimism that India could witness a stable government post the General Elections in 2024.
The prevailing sentiment regarding India’s economic growth is robust, and the continuation of the current government post the upcoming Lok Sabha elections could significantly boost market sentiment.
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While some experts foresee the Nifty reaching levels between 24,000 and 25,000 by the time of the General Elections in 2024, others approach this projection with caution. Skeptics argue that achieving such ambitious goals for the benchmark index requires careful consideration of global factors, geopolitical tensions, the performance of the upcoming year’s monsoon, and the global interest rate trajectory.
In an effort to gauge expert opinions on the Nifty’s trajectory over the next 6-8 months, Mint engaged with a range of analysts and market experts. Their diverse views shed light on the complex dynamics at play.
