Can Nifty 50 hit 25,000 by General Elections 2024? Experts weigh in
Bharatiya Janata Party (BJP) registered victories across three major states, fuelling hopes that the country will see a stable government after the General Elections 2024. India's economic growth outlook is strong and if the current government continues after the Lok Sabha elections next year, it may give a strong impetus to market sentiment.
Some experts see the possibility of Nifty touching the levels of 24,000-25,000 by the General Elections 2024. However, some of them believe it will be a lofty goal for the benchmark index and the market needs to discount global factors, geopolitical tensions, performance of next year's monsoon and interest rate trajectory globally.
Mint talked to several analysts and market experts to find out their views on Nifty target for the next 6-8 months. Here's what they said: (Exciting news! Mint is now on WhatsApp Channels. Subscribe today and stay updated with the latest financial insights! Click here!) Also Read: Sensex, Nifty hit record highs: What should be your investment strategy now? After the recent assembly election results, there is now a far higher probability being assigned by the market that the current political dispensation will continue after 2024.
This development should ensure the continuation of policies that support growth; thus, the market expects India to remain one of the fastest-growing major economies in the world. Political stability, strong economic growth, and the potential inclusion of India in global bond indices in mid-2024 can lead to the appreciation of the Indian rupee, which will lead to more significant FPI inflows in India, pulling markets towards 24-25,000 by mid-2024 national elections.
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