Sensex Trades Lower; CPI Inflation Data Eyed

Stock markets in India are presently trading on a negative note ahead of the release of key macro data such as CPI inflation for May and IIP growth print for April. The BSE Sensex is trading down by 278 points and the NSE Nifty is trading down by 82 points. Meanwhile, the BSE Mid Cap index and the BSE Small Cap index are trading down by 0.5% and 0.3% respectively.

Among the sectoral indices, IT stocks and realty stocks are witnessing maximum selling pressure. Metal and oil & gas stocks are trading in green.

Notably, Indian markets have been on the rise since the Narendra Modi-led coalition won a massive mandate to form the government for the second consecutive time.

In May, the benchmark Sensex rose 1.8%. In the year so far, Sensex has gained over 10%.

So, by the next elections in 2024, will Sensex touch 1,00,000 mark?

Does Sensex 1,00,000 sound outrageous from where we are right now?

Even Sensex 40,000 would have seemed the same from around 5,000 levels in May 2004.

History indicates a healthy rise in Sensex post elections. In the three elections prior to this, we have seen a government come back to power, and change hands but the Sensex has moved one way i.e. upwards.

Will the Sensex Be Close to 1,00,000 By the Next Election?

Will the Sensex Be Close to 1,00,000 By the Next Election?

 

And now, with a stable government at the center, the pace might pick up.

Co-head of research, Tanushree Banerjee believes there are 50 irreversible trends that will the push Sensex to 1,00,000.

And these 50 trends look set to play out soon.

The ride might have already begun looking at the stock market's reaction to the election results.

But it is still early days. And the time to hop on to the ride is right now!

In the news from the currencies space. The rupee appreciated by 8 paise to 69.38 against the US dollar in opening trade today, driven by easing crude oil prices and foreign fund inflows.

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