Stock Market Prediction 2024: What Analysts Expect From Sensex & Nifty?

It's another day and another time when India¡¯s stock market has hit fresh all-time highs. After already hitting fresh all-time highs multiple times this year in recent months, Nifty50 hit a new all-time high today at 21673, whereas Sensex is hovering at its record high of 72110, which it hit last week.

So now, it¡¯s natural that investors must be eager to know how India¡¯s stock market will perform next year, right?

Both Sensex and Nifty had a blockbuster year in 2023, soaring about 17% to breach the 71000 mark and the 21500 mark, respectively. So, will the bull run continue in 2024? Or the market will give jitters to investors by showing some correction? While that remains to be seen, let us have a look at what market experts are predicting about Sensex and Nifty in 2024.

Sensex & Nifty: Stock Market Prediction 2024

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Goldman Sachs

Goldman Sachs has forecasted the Nifty50 index to reach 21,800 by 2024-end. In its ¡®India 2024 Equity Outlook¡¯ Goldman Sachs also said it expects corporate profits in India to rise 15 percent in 2024 and another 14 percent in 2025, with growth broad-based across sectors, as per the HBL report.

The investment banking giant said it continues to favour domestic sectors and is overweight on banks, automobiles, cement, industrials, and utilities.

Also Read: Nifty v/s Sensex: How The Two Stock Market Indices Differ From Each Other

Morgan Stanley

Morgan Stanley expects India's stock market benchmark, BSE Sensex, to hit 74,000 by December 2024. This is based on assumptions of continuity in the government with a majority mandate, stable policy, robust domestic growth, and benign oil prices. As per a Business Insider report, Morgan Stanley expects BSE Sensex earnings to compound at a rate of 21.5% annually through FY26. However, the analysis also acknowledges the potential for volatility in 2024, which is evident in their bull-bear scenarios.

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Also Read: From Sensex To Nasdaq: How World's 10 Biggest Stock Markets Performed in 2023

ICICI Direct

Nifty could hit a level of 24,200 in 2024, ICICI Direct said in its Yearly Outlook 2024. The domestic brokerage believes heavyweight stocks from the BFSI, automobile, cement, and healthcare sectors to be at the Nifty level.

HDFC Securities

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As far as HDFC Securities is concerned, it has predicted that it is likely that the Indian stock markets will rise by 8¨C10 percent in 2024.

Also Read: How A Science Genius Lost Millions In The Stock Market

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