Will the stock market give bumper returns in 2024? How long will the current boom last, understand from the experts.

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The year Investors made a lot of money in the stock market in 2023. Major indices have broken their own records several times this year. Now stock markets are poised to enter an eventful 2024. In the new year, the stock market will keep an eye on the Lok Sabha elections and geopolitical developments as well as interest rates. Analysts believe that the domestic stock market will continue to rally and the major stock indices Sensex and Nifty may rise by 7% in the next 3-6 months. In the year 2023, the 30-share BSE Sensex gained 11,399.52 points or 18.73%. While the NSE Nifty gained 3,626.1 points or 20 percent.

Investors earned Rs 81.90 lakh crore this year

Analysts opine that Lok Sabha elections, US presidential elections, interest rate movements in the US and India, inflationary trends and geopolitical situation will be key factors for the stock market. He said that the market wants the return of the BJP government with a majority in the 2024 general elections. All eyes will be on the Lok Sabha elections and then the general budget first, Motilal Oswal Broking & Distribution said in a comment. Any reduction in interest rates will provide an additional boost to the market. In this year i.e. 2023, the capital of stock market investors has increased tremendously by Rs 81.90 lakh crore.

The increase will continue for the next 3-6 months.

Rakesh Mehta, chairman of Mehta Equities Limited, said India is the fastest growing economy in the world and the BJP’s lead in the recent assembly elections has further boosted investor sentiment. He said that due to positive macroeconomic factors as well as the fall in US bond yields, there has been an increase in buying of foreign funds in the Indian markets once again. He hoped that the current momentum would continue in the next 3-6 months. During this period, the Sensex and Nifty could see gains of 5-7 percent and mid-cap and small-cap indices could see gains of 10-15 percent. Foreign investors are expected to buy in 2024, said Partha Nyati, founder of stock trading platform Tradingo. This will be due to lower US bond yields and weaker dollar index.

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