Mark Mobius Predicts Sensex Will Skyrocket To 1 Lakh In 5 Years Despite Weaker Modi 3.0 Mandate

Esteemed investor, Mark Mobius said the Sensex is expected to reach the 1 lakh mark within the next five years. This forecast comes in spite of the reduced strength of the Modi 3.0 government.

What Happened: The perceived slimming down of the Modi-led NDA and BJP government does not signify the end of the bull run in the Indian stock market, Mobius said in an interview with the Economic Times. This prediction suggests a continued upward trend in the market, despite potential political changes.

See Also: Raymond’s Gautam Singhania Sees Salary Jump 22% In FY24

He also said India is an incredible place for the long term and the current market downturn due to election results can be used to find bargain investments. The buy-the-dip tactic can be used for construction companies as the country will need infrastructure despite whichever party is in power, Mobius added.

The veteran investor predicted software and technology sector would continue to do well despite the political uncertainties. He reasoned the companies in software, hardware and semiconductor areas would continue to see growth.

The former Franklin Templeton emerging markets executive chairman said the phenomenon of FIIs buying China and selling India is temporary and India is going to benefit from Foreign Institutional Investors’ desire to diversify from China.

Why It Matters: This prediction by Mobius is significant as it indicates a strong confidence in the Indian stock market, despite the political changes and the perceived slimming down of the Modi government. The sectors highlighted by the investor are expected to play a crucial role in this predicted bull run, indicating a positive outlook for these companies in the coming years.

Read Next: Ubs Macquarie Share Contrasting VieUBS, Macquarie Share Contrasting Views On HDFC Bank’s Gains From MSCI Rejig