The BSE Sensex rose 1,618.85 points, or 2.16%, to end at 76,693.36, having touched a lifetime high of 76,795.31 during the day. The NSE Nifty rose 468.75 points, or 2.05%, to close at 23,290.15, about 50 points below its lifetime high of 23,338.70.
Pankaj Pandey discusses the impact of the incumbent government s majority on the market, focusing on earnings, Budget expectations, and sector performance post-elections. Pandey further says once this monsoon gets over the focus will shift towards the overall infra spend side. Cement has not seen much of a price performance and key players like ACC, Ambuja, UltraTech or JK Cement are going to experience a slightly better growth rate than the industry.
Capital allocation has been concentrated in specific sectors, leaving many with limited funding. Fund managers currently favour sectors like PSU, industrials, and defence, while showing less enthusiasm for FMCG and auto.
Nifty could continue to make new highs after the elections and target 23,400 in the near term, said Pankaj Pandey, head of research at ICICIdirect.com.
Say industry associations should help foster knowledge sharing, build capacity among manufacturers, and advocate for policies that support decarbonisation