Indian benchmark indices continued their record-breaking run on Thursday, with the Sensex rising 406 points to a new high of 80,392.64 and the Nifty gaining 114.5 points to reach 24,401. This follows the Sensex crossing the 80,000 mark for the first time on July 3, while the Nifty hit a milestone by surpassing 24,000 on June 27.
Experts like Shrikant Chouhan from Kotak Securities attribute this achievement to the performance of equity markets over the years, emphasizing the importance of patience and confidence in long-term investing. The recent rally in the Indian market has been supported by positive global data and progress in the monsoon season. Lower US bond yields and expectations of rate cuts by the Federal Reserve have encouraged Foreign Portfolio Investors to remain active buyers in the market.
Despite the high valuations of the Indian market, experts believe that the current bull run will continue. Sumit Jain from ASK Investment Managers highlights the importance of focusing on business earnings delivery to create value in the market. Most experts expect the Nifty to reach between 24,500 and 26,000 levels by the end of 2024.
Various industry experts, including Ravi Singh from Religare Broking Ltd., Sonam Srivastava from Wright Research, Apurva Sheth from SAMCO Securities, Ashish Kumar from StoxBazar, Hemang Kapasi from Sanctum Wealth, Neelesh Surana from Mirae Asset Investment Managers, and Hemant Kanawala from Kotak Mahindra Life Insurance, provide insights and strategies for navigating the current market landscape. They all emphasize the importance of staying informed, diversifying portfolios, and focusing on strong fundamentals to capitalize on growth opportunities and manage potential volatility.
In conclusion, the rise of the Sensex to 80,000 signifies a significant moment in India’s financial markets. Investors are advised to adopt a strategic and balanced approach, staying informed about market trends and maintaining a diversified portfolio to navigate potential risks and maximize long-term wealth creation.