PM Modi Hints at Market Surge: Prime Minister Narendra Modi emphasized the importance of new investors in boosting the economy, noting that their ability to take risks should increase over time. He highlighted that the Sensex has grown from 25,000 to 75,000 points in the past decade.
With the ongoing Lok Sabha elections creating uncertainty in the financial markets, Modi expressed optimism that the Indian stock market will break previous records following the announcement of election results on June 4. He suggested that market participants might be overwhelmed by the surge in activity post-election.
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Currently, the Sensex and Nifty indices need to gain about 300 and 1100 points respectively to hit new highs. Despite reaching record levels on April 9, both indices have experienced significant volatility over the past six weeks, largely due to concerns about low voter turnout possibly impacting the BJP’s performance.
In an interview with NDTV, Modi’s remarks were aimed at reassuring investors. He predicted a market rally within a week of the election results, suggesting that stock market activity will intensify significantly.
Modi also encouraged more people to invest in the stock market, stating that broader participation would strengthen India’s economy. He stressed the importance of every citizen having some risk appetite.
For investors, the continuation of the Modi government means policy stability and continued reforms, which are seen as positive for the market. However, experts advise caution during this period. They recommend that new investors see this as a good entry point, but stress the need for thorough research, understanding risk tolerance, and making informed decisions. Monitoring market trends without panicking and having patience are crucial strategies for building wealth in the long term.