Authored by : Anubhav Maurya Updated Jun 9, 2024 | 03:20 PM IST Market expert Madhu Kela was optimistic about the new government's stability for the next five years.
(Image: Twitter/Madhu kela/Narendra Modi/ET NOW News)In an interview with ET NOW after the 2024 elections, Market expert Madhu Kela was optimistic about the new government's stability for the next five years.
According to Kela, the market will continue as usual and there will be no influence due to policy change.
In just three days, the market capitalization of BSE-listed companies jumped by Rs 28,65,742.36 crore to Rs 4,23,49,447.63 crore (USD 5.08 trillion) in reaction to the strong stock market bounce.
As regards the success of the coalition government, Kela believes that there are no significant deviations from the economic objectives, although the social agenda may change.
Authored by : Anubhav Maurya Updated Jun 9, 2024 | 03:20 PM IST Market expert Madhu Kela was optimistic about the new government's stability for the next five years. (Image: Twitter/Madhu kela/Narendra Modi/ET NOW News)
In an interview with ET NOW after the 2024 elections, Market expert Madhu Kela was optimistic about the new government's stability for the next five years. According to Kela, the market will continue as usual and there will be no influence due to policy change. Kela claims that, in the near future, a stable political situation will be ensured by the government's collation allies. According to him, Prime Minister Modi will remain at the helm and ensure political continuity.
From an economic point of view, Kela claims that the market reacted to the results of the elections with only a small fall compared to the pre election expectations. He believes that technicals, in particular momentum stocks, are volatile but stable.
Share Market zoomed after NDA win
Investors' wealth climbed by Rs 28.65 lakh crore during the three-day rally that ended on Friday, with the benchmark Sensex regaining 4,614.31 points, or 6.40 percent, to close at a record high. The fast rebound in stock markets follows Tuesday's bloodbath amid election results, which wiped out over Rs 31 lakh crore of investor wealth in a single day when markets plummeted after voting results fell short of expectations, PTI reported.
BSE/NSE Reached New Record High
The 30-share BSE Sensex hit a fresh high of 76,795.31 in day trade on Friday, up 1,720.8 points, or 2.29 percent, from the previous close. At the closing, the benchmark was up 1,618.85 points, or 2.16 percent, to 76,693.36.
At 23,290.15, the NSE Nifty closed up 468.75 points, or 2.05%. In just three days, the market capitalization of BSE-listed companies jumped by Rs 28,65,742.36 crore to Rs 4,23,49,447.63 crore (USD 5.08 trillion) in reaction to the strong stock market bounce.
Investors should focus on long-term wealth creation
In the past, Kela had been convinced that over the next three to ten years India's economy would provide a number of prospects for wealth growth. He said "this is the time to think of wealth creation rather than income generation."
As regards the success of the coalition government, Kela believes that there are no significant deviations from the economic objectives, although the social agenda may change. He believes that a good indicator of the economy is the track record of politicians such as Chandrababu Naidu, who is known to be pro-development and growth.
(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)
