The Indian stock market recently made headlines as the Sensex surpassed the remarkable 85,000 mark, a significant milestone that has sparked optimism among investors and analysts alike. With this achievement, the prospect of reaching the coveted 1 lakh (100,000) mark seems increasingly plausible
The market is currently experiencing a bullish feeling due to a number of variables, including optimistic economic projections, a positive outlook for the global economy, supporting monetary policies, and rising domestic investments.
Domestic inflows have increased dramatically in recent years due to the improving economic outlook, and growing retail involvement in the equities markets has created enormous liquidity and steady demand. “The recent increase in the Sensex above 85,000 is a noteworthy accomplishment, increasing the likelihood of reaching the goal of 1 lakh (100,000).
The market may be driven toward this goal by a number of factors, including the World Bank’s and IMF’s forecasts of continued economic growth, the benefits of US Federal Reserve rate cuts, significant inflows of foreign institutional investments, and the general upbeat mood in Indian markets, according to Bigul CEO Atul Parakh.
On Friday, September 27, Indian markets reached a new all-time high for the seventh session in a row, propelled by strong inflows from inside and optimistic sentiment worldwide. The Sensex rose 142 points to a record high of 85,978.25 during today’s intraday trade, while the Nifty gained 61 points to reach a new height of 26,277.35.
But Indian markets consolidated and went red after reaching fresh highs. Although the Sensex’s 1 lakh milestone seems more and more attainable, analysts disagree on how soon this milestone will be reached. While some analysts think the Sensex might hit this goal as early as next year, others think it won’t happen for another three years.