Will the stock market hit a new record?Image credit source: Unsplash
The size of the Indian stock market has crossed the Rs 5 trillion mark i.e. Rs 5 lakh crore. After registering a record growth ahead of the Lok Sabha election results, the market is now awaiting Modi’s first budget 3.0. It could be unveiled by the end of this month. So, will the stock market create a new record in budget announcements this time?
There is bullish momentum in the market. On Thursday too, Sensex saw growth and closed above 80,000 points. Now it remains to be seen where the budget announcements take the market and how much benefit they bring to common investors.
20% expected growth in the market
Experts believe that if the government maintains its capital expenditure and corporate profits continue like this, the market will be able to earn a return of 20% by the end of this year. Bloomberg has also conducted a survey on this matter.
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The government’s focus on the budget
This time in the budget, the focus of the government will be on increasing consumer spending. Finance Minister Nirmala Sitharaman met representatives from different sectors ahead of the budget and requested on behalf of all sectors to increase demand in the country. Thus, the government can keep the budget on the demand side.
Moreover, the government may continue spending on infrastructure development as it did in the previous budget. In the last budget, the government had kept the capital expenditure budget at over Rs 10 lakh crore. Therefore, experts believe that announcements related to this may be made in the budget and the market may create a new record with the budget announcements.
What does the survey say about the market?
In a survey conducted by Bloomberg, businessmen, strategists and investors associated with the market were asked about the growth of the market. In this regard, around 50% believe that Nifty 50 can cross 26,000 points by the end of December 2024. In just six months, the market has registered a growth of 12 percent in 2024.
