Market expert predicts Sensex will cross 28000 by Diwali
Market expert Akash Jindal has predicted that the Bombay Stock Exchange's Sensex will cross 28000 points by Diwali and 30000 points by the New Year.
Talking to ANI, Jindal said, "Because of the Modi Government, investors are looking at India with a lot of confidence, whether domestic or international investors, FIIs or FDIs. Some factors which are essential have gone up - car sales have gone up in the last three months and job recruitments have also increased."
"Between Diwali and New Year, the Q2 results will be announced and the efforts and initiatives of the Modi Government will show an impact in the Q2 results," he added.
Jindal also said that he feels that the economic slowdown is slowly going away, saying, "SEBI and RBI have taken a few measures that have increased the confidence of the investor. I feel that the slowdown is slowly going away."
He also advised investors to sit tight on stocks at the moment. "If you are sitting on a profit, don't get rid of it yet, your profit will increase even more. If you haven't entered the market yet, the best entry point will be within the next four months."
The "Modi Factor" has been attributed to the market being on the rise, with investors pouring in money since he was announced as the Prime Ministerial candidate in September 2013.
(Posted on 18-08-2014)