Nifty 50 to hit 1,50,000 in next 15-17 years but not without corrections, says Raamdeo Agrawal

Raamdeo Agrawal, Chairman and Co-founder of Motilal Oswal Financial Services

Nifty 50 could reach 1,50,000 in the next 15-17 years and the Sensex could hit 1,50,000 in the next 5-6 years, but not without corrections, said Raamdeo Agrawal, ace investor and Chairman of Motilal Oswal Group, in an interaction with CNBC Awaaz.

"To make money in the stock market, you need vision, courage, and patience. Patience, the most important factor, must be observed during times of stress," Agrawal emphasised.

He said that if there are any negative surprises in the market, the Sensex could reach 1,50,000 by 2030. Without negative surprises, it could achieve this level by 2028, he added.

Also Read | Corrections are an essential part of stock market, says Raamdeo Agrawal

Agrawal advised investors not to stress too much over the results of the ongoing general election in India, predicting that the incumbent BJP government will retain power with over 300 seats. "Election results will be out on June 4, but my strategy won't change. I'll remain invested on June 3 and June 5, regardless of the outcome." Addressing the consistent selling by FIIs in May, Agrawal noted that it will take some time for FIIs to start investing in the Indian market again. The uncertainty over general election results has been keeping FIIs away from the domestic market.

Follow our live blog for all the market action

Agrawal pointed out that FIIs haven't profited from emerging markets recently. "China doing well will reduce the valuation gap between India and China, attracting FIIs back to India," he added. However, he does not foresee FIIs returning to India for the next 2-4 months. Interest rate cuts, improved earnings, and reduced valuations are needed to bring FIIs back to the domestic market, Agrawal said.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.