Domestic brokerage firm Kotak Securities has released a report titled India Strategy. This report says that challenges in the market may continue in the coming weeks. The brokerage firm said that the valuation of the broader market still remains at a high level. Kotak Securities has cautioned that weakness in quarterly policies cannot be ruled out in the future as well. Companies have challenges regarding growth, weakness in consumer demand, inflation remaining at a high level are the biggest reasons for this.

However, looking at the positive things in this note, the brokerage firm said that BJP's massive victory in the Maharashtra elections will help in fulfilling the development agenda of the central government. The victory in Haryana elections has also shown a positive impact on the sentiment. There

is limited scope for fiscal consolidation due to the increase in government capex in the second half of the financial year 2025. This will boost the sentiment in the market in the short term. At present, there is more focus on execution rather than any new reforms or relief measures. Let us tell you that in a recent report, foreign brokerage firm Goldman Sachs has estimated that the Indian stock market may remain in the range during the next 3 months. This brokerage firm has set a target price of 24,000 for Nifty. However, the report also said that by 2025, Nifty can reach the level of 27,000. But, for this, the growth estimate should be 13% and 16% in the next two years. Nifty had made a peak of 26,277 on 27 September, from where the index has slipped by 10% so far. According to Goldman Sachs, the Indian market is not seeing much decline due to bad news at the global level. There is some cyclical slowdown in domestic growth. In such a situation, this index may remain in the range in the short term due to weak earnings amid high valuation. Meanwhile, a great boom is being seen in the Indian stock market on Monday. Both the major indexes i.e. Nifty and Sensex were seen functioning with a gain of 1.5%. Positive sentiment is being seen in the market after the victory of the BJP-led Mahayuti alliance in Maharashtra.