Notably, the Sensex has closed positively in the last 10 years on this day, adding to its reputation for bringing good fortune to investors. The Sensex has experienced significant growth over the past ten years. From a value of around 26,850 points in 2014, it touched an all-time high of around 85,978 points in September 2024. This impressive trajectory reflects an average annual growth rate that has consistently attracted domestic and foreign investors. Index performance is not only a reflection of market trends but also an indicator of India’s economic resilience and growth potential.
Bajaj Broking expects Nifty to target 28,400 levels by Diwali 2025.
“This target is aligned with the rising trendline on the annual chart that connects the major highs since 2014, as well as the scaling effects of previous significant rallies. However, the upward movement is expected to be accompanied by volatility rather than a straight path. We believe a healthy correction is long-term. will make the market healthy for an uptrend,” he said.
However, corporate earnings, after four consecutive years of healthy double-digit growth, are moderating due to pressure from commodities and dampening tailwinds from BFSI asset quality improvement.
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“Nifty’s earnings growth is likely to remain stable at ~12% CAGR in FY24-26. Hence for Samvat 2081, we expect Nifty to return similar to earnings growth as valuations remain close to long-term averages,” said Siddharth Khemka of Motilal Oswal. .
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