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Motiwal Oswal Financial Services Chairman Raamdeo Agrawal expects the Sensex to interaction 1,60,000 points by 2029, and sought a curate for superior markets, CNBC-TV18 reported.
At 1:56 p.m. IST connected Thursday, the Sensex was astatine 80,093.45, up 106.66 points, oregon 0.13%, aft opening astatine 80, 321.79. Earlier, it touched a 52-week precocious of 80,392.64 successful intra-day trade.
“Sensex has doubled each 5 years, people 1,60,000 for Sensex by 2029. Market tin treble successful the adjacent 5 years with a 15% CAGR, this is the happiest infinitesimal of my life,” helium told CNBC-TV18 successful an interview.
The Benchmark S&P BSE 30 scale opened supra 80,000 people connected Thursday, it had concisely crossed the aforesaid connected Wednesday too. The Sensex had crossed the 70,000 people connected December 11,2023. The summation from 70k to 80k has been achieved successful the shortest span of time. The reasons for summation are being attributed to monsoons, softening of US enslaved yields, and affirmative FPI flows successful June .
On the liquidity unreserved helium said, “it is not a interest successful the market, it is simply a blessed situation. Over fractional a cardinal radical should put successful the superior market, this leads to inclusive maturation of the market. Ultimate signifier of organisation of risk.” Liquidity unreserved volition besides administer the risks and amended the prime of equity, the Motiwal Oswal apical honcho said.
Agrawal said the authorities should person 1 authorities furniture curate for superior markets with an bureau successful Mumbai, adjacent though the SEBI is doing its job.
Agrawal besides said successful 4 years, “we (the Indian superior markets) mightiness go a 10 trillion market.”
On the expectations of the superior marketplace from the national budget, helium said the authorities should not alteration anything. “Capital markets should beryllium made charismatic to the masses. Masses should not spell backmost to existent property oregon golden investments,” helium said.
“The existent marketplace roar is bigger than the 1992 boom, lone quality is SEBI was not determination successful 1992,” Agarwal said. The authorities should taxation radical with income supra 12 lakh, expanding consumption.
Agarwal said it is astonishing that with the adjacent 8% GDP growth, request has not grown substantially, depletion is less, and the FMCG brands including Nestle , Marico etc are not doing well.
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