“PM Modi Foresees Record Stock Market Highs Amid Financial Reforms”
Prime Minister Narendra Modi has emphasized the transformative impact of financial reforms, stating that they have facilitated broader participation in the stock market for every Indian citizen.
In an interview with the Economic Times, PM Modi expressed confidence in the BJP’s prospects for securing a historic third term in government, anticipating record-breaking results on the country’s stock exchanges. “I can say with confidence that on June 4, as the BJP hits record numbers, the stock market will also hit new record highs,” Modi remarked.
Highlighting the impressive performance of the stock market under his administration, Modi noted the significant rally of the Sensex from 25,000 to 75,000 points in 2024. He underscored the trust and confidence investors have shown in his government, citing the surge in the number of Demat accounts from 1 crore in 2014 to 4.5 crore presently.
PM Modi attributed this surge in investor confidence to the pro-market reforms implemented by his government, which have fostered a robust and transparent financial system. These reforms, he asserted, have made it more accessible for every Indian to participate in the stock market.
As the Lok Sabha polls near their conclusion, PM Modi exuded confidence in the electorate’s trust in the BJP. He contrasted this with the perceived despondency within the opposition, suggesting a clear path to victory for his party.
Market data reflects the remarkable growth of the Indian stock market, with the Nifty 50 index surging threefold over the past decade and the market capitalization of BSE-listed companies reaching a milestone of USD 5 trillion.
Analysts anticipate a short-term rally in the stock market post-election if the NDA secures power again, with sectors like infrastructure, manufacturing, and domestic cyclicals expected to lead the way.
Closing Wednesday’s session on a positive note, the NSE Nifty 50 rose by 68.74 points (0.31 per cent) to 22,597.80, while the BSE Sensex increased by 267.75 points (0.75 per cent) to 74,221.06.
