Chris Wood says Sensex will cross 100000 mark in five years
According to statistics, the number of active demat accounts was 38 million in June 2022, which has come down to 31 million in April 2023. The Sensex has been trading in a narrow range for quite some time now. Wood said, ‘During the next 12 months, the question will dominate whether the Modi government will be returned to power or not. Also, the decline in the activity of retail investors is also a matter of concern. FII flows have yet again taken a U-turn in Dalal Street. In the three months till February, foreign investors had sold Indian equities worth $4.5 billion, while they have bought shares worth $7 billion since March.
The BSE Sensex was trading at 62,182.77 points with a gain of 310.15 points at 11.30 am on Friday. Similarly, NSE’s Nifty was also at 18,413.75 points with a gain of 92.60 points. Sensex was to reach 60,000 mark in September 2021. It took only 166 sessions to reach from 50 thousand to 60 thousand. But after this it had increased by only about 2,000 points. The market was badly affected due to the Corona epidemic. Also, the fear of recession in many countries of America and Europe has stopped the flight of the market.