The potential re-election of the Bharatiya Janata Party (BJP) in India in the 2024 general election could have a positive impact on the business and stock markets for several reasons.
Firstly, the growing appetite for stocks among domestic retail investors is seen as a positive factor for the market in 2024.
Additionally, the continued foreign interest in Indian financial markets, with heavy buying of shares and bonds, is likely to contribute to a bull-run in the markets.
Furthermore, strong fundamentals and robust earnings in the Indian stock market, with a forecasted earnings growth of 17.8% for India in 2024, are expected to support the market’s performance.
The potential policy continuity under a BJP victory is also seen as a factor that could propel stocks further.
These factors, combined with the overall positive market outlook, suggest that a BJP win in the 2024 general election could contribute to a cheerful business and stock market environment in India.