Nifty 50 Index: Nifty 50 Index can cross the 26800 point mark on the basis of the expectation of reduction in interest rates and the profits of companies during the festive season. Due to the slowdown in inflation and indications of reduction in interest rates by the US Federal Reserve, the Reserve Bank of India (RBI) has also given similar indications. In such a situation, experts expect that Nifty will continue to grow rapidly this year.
PL Capital and Incred Equities made estimates
PL Capital has estimated that Nifty 50 can reach 26,820 points by the end of this financial year. Earlier, the financial services company had estimated it to reach 26,398 points. On the other hand, InCred Equities says that the Nifty 50 index can touch the figure of 26,700 by the end of the financial year 2024-25. The Fed Reserve has indicated a cut in interest rates in the September monetary policy meeting. If this happens, RBI can also reduce interest rates.
Slowness in reforming policies in Modi 3.0
Incred Equities has said that this increases our bull case probability to 30 percent and the target for Nifty 50 increases to 26,736 points. On the basis of P/E valuation, it is close to the 10-year average level. But, it is ahead of other Asian markets. For the last eight months, the valuation of the Nifty 50 index has been around the 10-year average level. Analysts said that India is emerging rapidly to accelerate the global GDP pace. However, the continued sluggishness in policy reforms in Modi 3.0 is creating mild concerns. At this time, steps to win assembly elections are more visible in the policies.
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On the other hand, PL Capital has said that the festival season, the possibility of interest rate cuts and increasing consumption in rural areas can lead to a rapid growth in Nifty 50. He says that consumer goods, building materials, IT services, pharma, telecom, infra, port, hospital, tourism, auto, new energy and e-commerce sectors will see growth. PL Capital has included Bharti Airtel, IndusInd Bank, InterGlobe Aviation, Lupin, Mahindra & Mahindra, BEML and Lemon Tree among the stocks to be bought.
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