Stock market seen rising 9% in 2024 with new highs in June: analysts poll (2024)

FAQs

Stock market seen rising 9% in 2024 with new highs in June: analysts poll? ›

India's stock market may surge to new highs by the end of June and gain nearly 9% in 2024, according to analysts polled by Reuters. A correction in the next three months was unlikely, they predicted as the BSE Sensex index climbed nearly 19% last year on expectations that India's economic growth will outpace its peers.

The consensus 12-month analyst price target for the S&P 500 is 5,614, representing about 6.8% upside from current levels.

Nifty 50 is expected to rally towards 23,400 by June 2024 driven by BFSI, auto, capital goods, and metal sectors. Midcaps' correction offers attractive risk-reward opportunity for investors seeking quality stocks, as per ICICI Direct.

There are no set ages to get into or to get out of the stock market. While older clients may want to reduce their investing risk as they age, this doesn't necessarily mean they should be totally out of the stock market.

Key takeaways

Expectations of an earnings rebound in 2024 suggest earnings could continue to drive the market higher. While some valuations are stretched, there is still room for the market to grow if earnings estimates are met.

Given this backdrop, he believes India's high valuation is sustainable and expects the Nifty 50 index to reach 25,200 by March 2025, implying an upside of 12%. The Nifty target is based on March 2026 EPS estimates of ₹1,226 and a 12-month forward target PE multiple of 20.6x.

What is the prediction for Sensex in June 2024? ›

What's the 2024 prediction for Indian stock market? The Reuters poll of 28 equity analysts forecast the Sensex index would add another 4% and reach high of 76,000 at the end of June. This is set to be far above the 70,000 level expected in a November poll.

They think that, as it has for the previous year, upward growth revision is expected to continue to come from the capital-intensive and cyclical sectors, which will explain their outperformance. According to experts, our one-year forward objective for the Nifty 50, which is set for March 2025, is 24,800.

Stock Market Live Today: Nifty prediction today – March 28, 2024: Index sees bullish reversal; go long. Nifty 50 began today's session with a gap-up at 22,164 as against yesterday's close of 22,124. It extended the gains and is now hovering around 22,260, up 0.6 per cent.

2024 stock market outlook

Next year, investors can expect declining inflation, reasonable economic growth, and potentially, interest rate cuts by the Federal Reserve, according to Niladri Mukherjee, Chief Investment Officer for TIAA Wealth Management.

The agency forecasted Dow Jones will close in 2024 at 40,000 points. The updated Dow Jones price prediction for the next 5 years is for the index to trade around 45,000 points.

The estimates from strategists put the median target for the S&P 500 at 5,200 by the end of 2024, implying a decline of less than 1% from Friday's level, according to MarketWatch calculations. Heading into 2024, the median target was around 5,000 (see table below).

S&P 500 could hit 6,500 by end-2025, says Capital Economics.

BlackRock. Highlights: 5.2% 10-year expected nominal return for U.S. large-cap equities; 9.9% for European equities; 9.1% for emerging-markets equities; 5.0% for U.S. aggregate bonds (as of September 2023). All return assumptions are nominal (non-inflation-adjusted).

U.S. stock returns: 2023 optimism carries forward

This heightened optimism is on par with the positive outlook in December 2021, when investors anticipated a 6% stock market return for 2022. Investor expectations for stock returns over the long run (defined as the next 10 years) rose slightly to 7.2%.

Optimistic: 6%-7% per year.

If you assume margins and P/E multiples will remain at their current high level, and expect sales and buybacks to grow at their historical rates, then you can anticipate making about 6% in returns per year over the next decade.