Lok Sabha Election 2024: Nifty 50 may see a rally to 23,000, but can that last longer? Bernstein answers
Bernstein.Bernstein expects sectors such as infra, manufacturing, domestic cyclical, financials, and SOEs (state-owned enterprises) to lead, while consumer and IT will lag. For a few days, SMIDs (small and midcaps) may do better than large caps, said Bernstein.The final two phases of the seven-phase Lok Sabha election 2024 are scheduled for May 25 and June 1.
Vote counting will begin on June 4, with the final results expected by the evening of the same day.Also Read: Will Indian share market continue to correct before Lok Sabha election 2024 result? Experts list out 28 stocks to buyBernstein, in its report dated May 21, underscored that the decisive victory for the BJP-led NDA in the ongoing Lok Sabha election 2024 would significantly boost India's economic growth by ensuring political stability, enabling the nation to catch up with its major Asian peers.Highlighting the importance of policy continuity at the Centre, the financial firm strongly argued for the necessity of a third term for Narendra Modi, emphasizing the need for "Modi 3.0" in India."To benefit from the structural drivers, we think India has a lot of catch-up with several Asian peers. Building infrastructure, scaling up manufacturing, building a more viable export franchise, employment, and managing inflation—the list is long.
With India moving from the reform cycle to the execution cycle, continuity of power remains a crucial driver for the sustainability of the macrocycle," said Bernstein in its report.Also Read: Expert view: Don't try to time the market; expect value stocks to perform better, says Sujan Hajra of Anand RathiBernstein expects the continuity of power at the Centre after the Lok Sabha elections. It analysed four potential scenarios of the
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