India stocks’ historic eight-year winning streak poised for extension

Indian equities are poised to rise further after closing out a record eight-year winning run in 2023, on expectations of continued inflows from retail and foreign investors as well as strong growth in corporate earnings.

That’s the key takeaway from an informal Bloomberg News survey of 10 fund managers and strategists, seven of whom said the NSE Nifty 50 Index will rise in 2024. Of them, two predicted a gain in excess of 10%. Two other respondents forecast a drop. The benchmark has risen 20% this year, setting new records along the way and beating MSCI’s Asia Pacific and emerging markets indexes.