On December 11, the Sensex had its first-ever break above 70,000, while the Nifty reached 21,000, indicating that the bullish momentum in the equity market persisted.
In its latest policy decision, which was made public last week, the RBI stated that it is witnessing a rise in private consumption, a fortification of manufacturing, and buoyancy in the services sector. It also perceives the external demand drag to moderate. With the real GDP forecast for FY24 at 7%, the central bank has provided a good view for the Indian economy in the midst of these challenges.
Over the weekend, Prime Minister Modi stated that the nation’s growing economy and the revolutionary changes implemented over the last ten years are to blame for India’s 7.7% GDP growth in the first half of FY24. Indian stocks, which have surged spectacularly following the ruling party’s resounding victory in three state assembly elections, have benefited from the sentiment.
