Nifty-50 can give up to 19 percent return, after Diwali domestic stock markets may boom

Despite the recession in America and Europe along with geopolitical challenges globally, Nifty 50 investors can get up to 19 percent returns in the current financial year 2023-24. This estimate has been expressed in the report of Edelweiss Group, which provides investment-related services. This is being estimated mainly in view of the strength of the domestic economy and the possibility of an increase in foreign institutional investment (FII).
In the next financial year 2024-25, up to 15 percent returns can be received from the stock market. 50 leading stocks of large companies are addressed as Nifty 50. According to the report, the economic situation on the domestic front is looking strong due to the continuous increase in all types of loans in the banking sector, increase in private spending along with capital expenditure in infrastructure, and better performance of the real estate sector in the last one and a half years. Apart from this, the trend of foreign investors is expected to turn towards the Indian market again.
According to the report of Morgan Stanley Capital International, India still remains second only to China in the Emerging Market Index, which will help in increasing foreign institutional investment. This index was 12.8 in the financial year 2021-22, which increased to 16.2 in 2022-23.
Edelweiss CIO (Equity) Trideep Bhattacharya said that the market could see a boom after Diwali. By then the global recession is also likely to subside. There are elections in many states like Madhya Pradesh, Rajasthan, and Telangana by the end of this year, and next year there are elections for the Centre. This will increase the expenditure and many public interest decisions can be taken on the economic front.
He said that the performance of the real estate sector will be good due to an increase in private consumption and a huge reduction in the inventory of finished houses over the years. From GST collection to the increase in industrial production and service sector, the results of the efforts being made by the government for manufacturing will be visible in this financial year. In the current financial year, with the support of the sector related to capital goods, finance, and manufacturing, the returns of the market will be strong.