Modi’s Budget to Send India’s Soaring Stocks Higher, Survey Says
- Nifty seen rising up to 26,000 by year-end after 12% gain YTD
- Market participants positive on consumer, financial stocks
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India’s $5 trillion stock market stands to gain as much as 20% for the entire year, buoyed by government spending and continued momentum in corporate earnings, according to market watchers.
The upcoming government budget will likely boost consumer spending and infrastructure building, which bode well for businesses, strategists and investors surveyed by Bloomberg said. More than half of the 24 respondents estimated that the NSE Nifty 50 Index may advance up to 26,000 points by the end of 2024, while one predicted the gauge can climb even more.