🙏Sensex may hit 70,000 in 3 months: Axis My India survey – The Hindu BusinessLine

Clipped from: https://www.thehindubusinessline.com/markets/sensex-may-hit-70000-in-3-months-axis-my-india-survey/article66591219.ece

Other survey findings. Only 8% watch content over 3 hours in OTT platform; overwhelming 72% believe Indian economy would continue to grow in 2023

A vehicle features an advertisement for the Bombay Stock Exchange (BSE) outside the bourse’s building in Mumbai | Photo Credit: DHIRAJ SINGH

A survey by Axis My India says that 43 per cent believe that S&P BSE Sensex will go beyond 70,000 in the next three months. “Whereas 25 per cent believe that, it will remain between 55,000 and 65,000, 18 per cent believe that it will drop below 50,000,” the survey by one of the famous names in opinion and exit polls of elections, has revealed.

According to the Consumer Sentiment Index survey, an overwhelming 72 per cent believe that Indian economy would continue to grow in 2023.

“The March report reveals that consumer sentiments are positive towards the 2023 Budget announcement and overall, the sentiment remains optimistic that the economy will continue to grow in 2023, owing to the country’s robust fight against all odds last year,” it further said.

Modi, most influential

Indian Budget 2023 focused on reviving the economy, which was impacted by the Covid-19 pandemic and various other obstacles. The government announced various measures for citizens’ financial empowerment and improved standard of living. This was highly appreciated across the country.

“The Prime Minister Modi being rated as the most influential person in India by far is no surprise. At an overall level, while consumer sentiments are subdued, it is expected to revive soon, driven by various factors such as improving economic conditions, growing consumer confidence, and changing consumer behaviour. Moreover increasing adoption of e-commerce and digital payments is likely to drive consumer spending in the near future,” Pradeep Gupta, Chairman & MD, Axis My India, said.

Interestingly, the survey said that only 8 per cent of views of OTT (over the top) platforms watch more than 3 hours. While 29 per cent spend 1-3 hours on watching content on OTT platforms, 26 per cent spend up to 30 minutes on OTT platforms and 23 per cent watch for 31 minutes-one hours.

Spending on health rises

Spends on essentials such as personal care & household items have increased for 36 per cent of the families, which reflects a dip by 4 per cent from last month. On the other hand, spends on non-essential and discretionary products like AC, car, and refrigerator has increased for 4 per cent of families, which reflects a decrease by 1 per cent from last month, it found.

However, expenses towards health-related items such as vitamins, tests, healthy food has surged for 35 per cent of the families. This reflects an increase in consumption by 2 per cent from last month.

Consumption of media (TV, Internet, Radio etc.) has increased for 19 per cent of the families, which reflects a decrease by 1 per cent from last month.

Axis My India, consumer data intelligence consultancy firm, had conducted the survey with 10,124 people of whom 65 per cent are from rural India.

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