Sensex may touch 1,00,000 by the end of 2024, be ready to buy at the right opportunities, say veteran investor
Sensex may hit 1,00,000 by the end of this year, believes Mark Mobius
Mark Mobius, a veteran investor, firmly believes that Sensex may hit 1,00,000 by the end of this year. It would directly mean a jump of 18% in the last three months of 2024.
Thus far in 2024, the BSE Sensex has already risen by 18 percent. The investors have been rewarded with positive returns since 2015 consistently. Only in 2015, it had declined by 5 percent, the only time since 2012. The average annual returns since then have been 17 percent.
As India’s GDP is poised to grow by 7 percent or higher in 2024-25 and continue on the upward spiral in the coming years, the stock markets are definitely going to rally, creating wealth for investors. It is that time in a country’s growth when wealth creation suddenly gets into overdrive before settling into a flattened curve when the economy saturates.
This spurt in growth is fueled by India’s rich demographic dividend, the infrastructure boom, the burgeoning growth of middle class and overall political stability. Hence it is wise to book profits while the sun shines.
Mobius said, “We are now on a long-term bull market for India. And I see the Sensex going up to 100,000 probably by the end of the year provided that the measures taken by SEBI do not put a big damper on the market, that’s something that we have to watch,” during an interview with CNBC-TV18.
Mobius, during the exclusive interview with CNBC-TV18 on Monday, September 30, also spoke about the recent rally in the Chinese stock markets but said that this recent outperformance would be temporary in nature as it is still not fully clear whether the Chinese government is fully behind its big entrepreneurs.
This rally in Chinese markets will stimulate investments into other emerging markets too. Mobius shared an investment plan he would follow if he had to invest $100 today. He would invest $50 in Indian markets, $25 in China and the remaining $25 in other emerging markets like Türkiye, Vietnam etc. He suggested 10% of the portfolio could also be allocated to gold.
Mobius said it would be worth the risk to invest in emerging markets as they are likely to outperform the more mature markets of the west such as the US.
Disclaimer: The article is for information purpose only and is based on the opinion of an investor as expressed in an interview with CNBC-TV18. It is not an investment advice and readers are requested use their wisdom or consult with a financial advisor to understand the risks associated with investments in stock markets before making any investment decision. The publisher and the author cannot be held responsible for any adverse outcome of any action based on this article.
