Indian stock market ready for pre-election rally ahead of 2024 polls
India anticipates sustained healthy government spending, benefiting the rural market. Crude prices are falling, which is advantageous for India fiscally. Pre-election data shows that the Indian market has historically provided a healthy rally before elections.
Between July and October 2023, the Indian market experienced a consolidation period characterized by a global sell-off strategy. A reversal of this trend began in November, and current indicators suggest that this shift will likely continue in the short to medium term. This shift is linked to alterations in the trajectory of global bond yields, complemented by a decrease in inflation. US Fed’s tone has cushioned suggesting moderation in rate in 2024, safer to prevent a profound slowdown in the economy.
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