Modi 3.0: Infra, defence, railways, PSU Banks, among key sectors to be in focus if BJP wins Lok Sabha Elections 2024

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Also Read: Stock market today: Nifty 50, Sensex hit all-time highs. Exit polls 2024 to GDP data - 4 reasons why market is soaringIf the present government retains power, Sen expects macroeconomic and financial stability is likely to be prioritized, which he believes is vital for continued macro growth and corporate earnings.

Secondly, capital expenditure is expected to continue, with roads, railways, affordable housing, and green energy in focus. Third, the government may push domestic manufacturing further.

It is also expected to emphasize pharma API and textiles in addition to Autos/EVs and electronics and semiconductors.“We believe that macro-financial stability and focus on capex, investments and manufacturing should sustain the multi-year bull run in Indian equities," Sen said. Also Read: Stock market at new all-time high; Sensex above 76,500 for the first time, Nifty crosses 23,300Among sectors to watch out for if the NDA retains power, Sen reiterated his preference for Industrials, Materials and Discretionary over Financials and IT.“The immediate beneficiaries of a third NDA government are Capital Goods (Railways and Defense), Housing, Tourism, and Aviation.

Textiles and Pharma API are probable winners. Valuations, though, are a challenge for some of these sectors.