After a stellar 2023, Indian stocks are set to pause until the general elections

The Indian stock markets rallied to new highs in 2023 on the back of bullish investors and stronger domestic participation. But analysts warn that the level of optimism seen last year will not be replicated before the general election concludes. 

Indian equity benchmarks the Nifty 50 and BSE Sensex have rallied by more than 6% since the state elections concluded in the first week of December with Prime Minister Narendra Modi’s Bharatiya Janata party winning three of four states. 

Both the Nifty and Sensex hit record highs of 22,081.95 and 73,000, respectively, during Asia’s Monday afternoon trading session.