2024-04-11 23:27:23
New Delhi: BSE Sensex is riding on the bullish bandwagon. This week he crossed an important milestone. This 30-share index crossed the psychological level of 75,000 points. Investors are now eyeing the next target of Rs 85,000. Well-known stock market expert and director of IIFL Securities Sanjeev Bhasin estimates that this level may reach by the end of this year. However, some obstacles seem to be coming in the way of 85,000. Bhasin has expressed the possibility of some turmoil and decline in the market before the elections. However, he has also predicted that the Sensex may touch the level of 1,00,000 in 12 to 18 months.
The veteran investor has said that there is a possibility of some correction in the market before the elections. Only then will we reach higher levels. We need income to move forward.
What is the prediction on Sensex?
Bhasin further said that the Sensex may touch the 1,00,000 mark in the next 12-18 months. According to him, the sensitive index is expected to reach 85,000 by the end of the year. But, it may take a year to one and a half years to reach the figure of one lakh. These are very tempting numbers.
Sanjeev Bhasin said, ‘Now everyone is making noise, but it is time to be a little cautious and take out some investments. The first reason is that the inflation rate is increasing. Oil prices are strong. Rate cuts are taking place in America. Now it is being lengthened. Along with this, as far as positive aspects are concerned, the season of earnings data of companies is completely certain. Any adverse news can be dealt with a bit harshly.
Is it time to book profits or hold on?
According to Bhasin, the markets are in full swing. Last year the Sensex rose by about 25 percent. It has increased from the level of 60,000 in April last year to 75,000 now. However, according to the principle, what goes up, also comes down. In such a situation, correction may be seen. The market seems to be ready for that.
According to Bhasin, withdrawing some money now is a good step. Everyone is in festive mood. 75,000 is a very good benchmark. This may persist for some time. It’s a glass that’s half full, half empty. People have realized that money from fixed deposits is going into mutual funds. This may continue for some time. Everyone wants a share of equity or SIP. Record inflows into mutual funds are its hallmark.