Nifty to reach 24,500 by the end of this year: BofA Securities

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General Elections 2024: RVNL, SBI, GAIL and more - Motilal Oswal lists 8 technical stock picks after exit polls."I know that the stocks have rallied, and it bothers some; I am not saying that it is going to be a smooth ride for all stocks. We have downgraded a few stocks.

But on the cycle per se, I continue to stay extremely bullish. There are a lot of sunrise sectors in India on which India has not even started capex yet.

but over the next, call it, three, five years, these are going to become multi or very big themes," he said.He believes India is only now entering the fourth year of its capital expenditure cycle and perceives substantial potential in emerging sectors such as data centres, semiconductors, biofuels, and green hydrogen.He feels that the private sector's investment in capital expenditure (capex) has yet to reach its full potential. State-owned enterprises are shifting towards more environmentally sustainable operations, necessitating significant investment.Shah envisions a robust growth cycle by merging government expenditure on productive infrastructure with capex from both the private and public sectors.Also read: Markets at an all-time high but don't get swayed by the euphoria: Enam's DoshiThe brokerage firm also expresses optimism regarding financial, defence, and railway public sector units (PSUs) stocks.