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Christopher Wood, global head of equities at Jefferies believes that it is only a matter of time before Sensex touched 100,000 level, as per media reports. He further added that the Indian stockmarket will continue to climb the proverbial wall of worry.
While talking about the Sensex reaching 100,000, Wood, as per media stated, “One obvious worry over the next 12 months will be the inevitable questioning of the current consensus, namely that Modi will be re-elected.”
In February 2022, Wood had stated in a note that it will take 5 years for India’s Sensex to reach level of 100,000, which would be by the end of 2026.
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Today, on May 26, Indian shares opened on positive on improved global cues, after witnessing high volatility in previous session in which the benchmarks reversed losses in the final hour of the May series expiry day. Sensex climbed 178.34 points to reach 62,050.96 during the hours of early trade. Meanwhile, Nifty gained 51.1 to reach 18,372.25.
On May 24, Brokerage group Jefferies had stated that the Indian stockmarket is likely to outperform its fellow Asian stockmarkets in the long run, as the investors seem to bet on the country’s economy growth prospects.
