Wednesday, June 19, 2024
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Nifty 50 to hit 1,50,000 in this much time, Motilal Oswal’s Raamdeo Agrawal says

Nifty 50 may reach 1,50,000 in the next 15-17 years and Sensex could hit 1,50,000 in the next 5-6 years although this would not be without corrections, Raamdeo Agrawal, ace investor and Chairman of Motilal Oswal Group, said. In an interaction with CNBC Awaaz, he said, “To make money in the stock market, you need vision, courage, and patience. Patience, the most important factor, must be observed during times of stress.”

A man looks at a screen across a road displaying the Sensex on the facade of the Bombay Stock Exchange (BSE) building in Mumbai.(Reuters)

Sensex could reach 1,50,000 by 2030 with negative surprises and without negative surprises, it could achieve this level by 2028, he said.

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Talking about the impact of ongoing Lok Sabha elections on the stock market, he said, “Election results will be out on June 4, but my strategy won’t change. I’ll remain invested on June 3 and June 5, regardless of the outcome.” Addressing the consistent selling by FIIs in May, he said, “China doing well will reduce the valuation gap between India and China, attracting FIIs back to India.”

He also said that every quarter is seeing a quarter-on-quarter growth for the last few quarters. “I mean, every single business is becoming bigger by the quarter,” he said, adding, “Right now, we have uncertainty about elections and global geopolitics. So, my sense is that because the market is expanding, we have already talked about so many times about the retail equity revolution in India, and we are leading right from the front because we cater to almost 98% of the pin codes and things like that.”

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