Best Sector to Invest in 2024

One of the most traded exchanges of the Indian stock market is The National Stock Exchange (NSE). Their flagship index NIFTY 50 is roaming around its all-time high record. On Friday it ended at 21,731 points & this new year (calendar) brings some new hope among the Indian stock market traders and investors.

As the market has been Bullish for a long time,

however, the experts are smelling a Bearish appearance. Investors and Traders are eagerly waiting for a correction in the market.

Future of Indian Market for the upcoming year.

According to the Asian Development Bank, the Indian economy is getting ready for a huge boom and slowly forwarding to beat the world's top three Economies. According to the ADB, Indian GDP will rise between 7.2 and 8.3 in the coming years. The public and private sectors will receive huge investments the reason why ADB, S&P, and FITCH think it's the correct time to invest in the Indian market.

Let's check which sectors may gain the most return for the Indian market investors.

Manufacturing

Ahead of the Lok Sabha Elections Indian Government is aiming to gain people's trust by making India a global Manufacturing Hub.

Auto and ancillaries might play a great role in the Manufacturing sector.

BFSI

BFSI-NBFC will play a major role in the coming year as the growth momentum in the home loan, auto loan, and credit card outstanding along with Corporate loans and recoveries might turn around the game. The banking sector is expected to deliver healthy growth in FY24.

Renewable Energy

According to some sources, India will create 450 gigawatts of Renewable energy by 2030, which will be distributed among different sectors like Solar energy, Biofuels, and Wind energy. The government of India is aiming to launch a few programs like Ultra Mega Solar Park and Solar Rooftop to use renewable energy. We are hopeful this renewable energy will create history and bring a smile to the investor's face.

Real Estate

As India is focusing on the manufacturing sector and wants to hold the growth in the IT sector, real estate will be a big game changer in FY24. Real Estate Regulatory Authority is trying to spread the real estate business in India by merging with government bodies, hence it's expected that Real estate will not disappoint their investors.

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