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The Nifty India Manufacturing Index reflects the performance of India s manufacturing sector, comprising companies from Nifty indices. It is rebalanced semi-annually and offers diversification benefits. However, it may have a market cap bias and sector-specific risks.
According to the equity advisory firm, apart from a few exceptions the Nifty indices have often demonstrated an upward trajectory around elections. Despite the difficulties and volatility during the previous 30 years, Nifty has provided a CAGR return of 13% when examining market returns.
With the 2024 general election underway and incumbent Prime Minister Narendra Modi vying for a historic third term, an analysis by FidelFolio suggests that the current general election and its outcome will likely not have a major long-term impact on the equity markets.