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Sensex and Nifty, the two key Indian equity benchmark indices, are poised to reach new peaks by December. Market experts predict Sensex might hit 90,000 by year-end, while Nifty50 could soar to an all-time high of 27,000 soon.
Abhishek Khudania, Senior Executive Director at Wealth, Client Associates, highlighted the market’s drive to reach new highs, likening it to Newton’s First Law. He suggested that the market’s momentum could continue unless external forces intervene. “The recent highs of Sensex occurred in record periods of about 140 to 160 days. If this trend holds, we might see the 90,000-mark by December 2024,” he told ABP Live. However, he cautioned against over-reliance on mathematical extrapolation, noting the unpredictability of market behavior.
Kranthi Bathini, Director of Equity Strategy at WealthMills Securities Pvt Ltd, commented on the current market momentum, driven by liquidity flows and positive sentiment. “The market can reach 90,000 levels,” Bathini said. “With ongoing liquidity flows and positive sentiment, the market could hit the 90,000-mark soon.”
He also warned of potential risks, citing geopolitical tensions and volatility. “With the coalition government back, we must remain watchful,” he noted.
Bathini emphasized that policy continuity and domestic growth support the bullish market sentiment. He noted that ongoing liquidity from both foreign and domestic investors could push Sensex to 90,000 and Nifty to 25,000 soon. He suggested that an RBI rate cut could boost market sentiment and corporate earnings.
Khudania pointed to India’s structural growth story and attractive valuations in the large-cap space, which draw positive Foreign Institutional Investor (FII) flows. He noted that continued policy initiatives and reforms in the upcoming Budget, without fiscal surprises, could maintain market momentum. “Reaching 90,000 on Sensex or 27,000 on Nifty is the next milestone to watch,” he stated.
The overall outlook remains optimistic, supported by stable earnings growth, positive sentiment, and liquidity, positioning the markets on firm footing.
