Stock market news: When will Nifty 50 index climb to 30K peak?

Stock market news: The Indian stock market has been on an uptrend after the 'sell-off trigger ', a sudden and significant decrease in the value of stocks, post-Lok Sabha Election results. The Nifty 50 index breached the resistance, which was placed at 23,300, and the 50-stock index is now facing a new hurdle at 23,500. According to experts, the Indian stock market expects a growth-oriented Union Budget in 2024. One can expect a pre-budget rally in which Nifty may touch the 24,200 mark ahead of the interim budget 2024. They added that Nifty may touch the 25,000 mark by Diwali 2024. They also said that the Nifty 50 index may reach 30,000 by the end of 2025.

Triggers for the Indian stock market

Delving into the factors that could shape the Indian stock market in the near to medium term, Avinash Gorakshkar, a seasoned Head of Research at Profitmart Securities, provided a meticulous analysis. He emphasized, "The interim budget 2024 is poised to be a significant catalyst for the Indian stock market. The market is eagerly anticipating a growth-oriented Union Budget from the first budget of the Modi 3.0 government. The next pivotal event for the market would be Diwali 2024. Based on these factors, we can anticipate an 8-10 percent rally in the Indian frontline indices. Even in a worst-case scenario, we can still expect such returns from the Indian stock market by the end of this year." This expert analysis establishes a robust basis for the predictions, fostering a sense of confidence in the audience.

However, Gorakshkar maintained that there would be a sell-off ahead of the pre-budget rally, and the Nifty 50 index may come close to the 23,000 mark or maybe below 23,000. Fresh rallies may take time till the interim budget presentation date is announced. He advised long-term investors to have their money ready for bottom fishing. He asked about the value picks and advised investors to look at the realty, auto, capital goods, and banking segments to find value picks.

Nifty 50 trend post-COVID

"In the post-COVID scenario, we have observed that a bull market in India tends to endure longer than a bear market. This tenacity is why we witness a strong rebound in the Indian stock market. It is a testament to the market's resilience that it is a longer bull market than the bear market, which has allowed Dalal Street indices to scale new peaks on a regular basis after a pullback post-sell-off trigger," reassured Sumeet Bagadia, Executive Director at Choice Broking. This robustness of the Indian stock market should instill a sense of security in the audience.

"It has been observed that in one year, the Indian stock market experienced three bull markets and three bear markets. After every bull market, we witness around 800-900 points rally on Nifty, which implies we can anticipate around 166-1800 points rally in the 50-stock index by the end of 2024. In 2025, we can expect the Nifty 50 index to register around 2400 to 2700 points rally in the Nifty 50 index or, say, around 10 percent rise on a year-on-year basis. So, by the end of 2025, we can expect the Nifty 50 index to touch the 27,500 to 28,000 level," said Ganesh Dongre, Senior Manager of technical Research at Anand Rathi. This long-term potential of the Indian stock market should evoke optimism and hope in the audience.

Sumeet Bagadia of Choice Broking said that in the post-budget rally in 2026, we can expect the Nifty 50 index to touch the 30,000 mark.

Disclaimer: The views and recommendations above are those of individual analysts, experts, and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.