Sensex to cross 70,000 by festive season: Axis Survey
Bombay Stock Exchange
By Our Special Correspondent
New Delhi, September 5: Axis My India in a survey of investors has claimed that Sensex will scale the 70,000 level by festive seasons. The report claims to scrutinize the potential trajectory of the stock exchange (Sensex).
“…46 per cent of investors are optimistic about its surge beyond the remarkable 70,000 mark during the festive period,” said the pollster, who made name for predicting the outcomes of elections.
“As we step into the dynamic realm of the festive season, our survey reveals captivating insights across various national facets. We anticipate a vibrant festive shopping spree ahead, reflecting a positive and forward-looking trend. Furthermore, the profound influence of government policies on our nation’s growth is evident and the substantial confidence expressed in Government Social welfare schemes signifies their potential impact,” said Pradeep Gupta, Chairman & MD, Axis My India.
He further stated “amidst these dynamics, the anticipation surrounding the 2023 ODI World Cup is palpable. With 70% confirming their awareness of this prestigious event, it’s an enticing platform for brands to align their narratives with a globally recognized cricketing spectacle. As we look forward, these trends invite us to harness the current sentiment shaping our economic and cultural landscape.”
The report also claimed 64% respondents expressing trust in initiatives like Pradhan Mantri Jan Dhan Yojana and Pradhan Mantri Mudra Yojana. “Notably, 23% of respondents are anticipating increased shopping activities during the upcoming festive season, reflecting a positive sentiment towards holiday spending,” added the report, explaining that the sentiment analysis delves into five relevant sub-indices – Overall household spending, spending on essential and non-essential items, spending on healthcare, media consumption habits, entertainment & tourism trends.
The survey used Computer-Aided Telephonic Interviews and included 5048 participants from 35 states and UTs. Among them, 68% were from rural areas and 32% from urban areas. In terms of regions, 22% were from the North, 24% from the East, 28% from the West, and 26% from the South of India. Among the participants, 62% were male and 38% were female. Looking at the largest groups, 29% were aged between 36 and 50 years old, while 27% were aged between 26 and 35 years old.
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