In terms of the CY25 index targets, 55 percent of the respondents said they expect the Nifty50 to end between 25,000 and 27,000
While Nomura does expect a cyclical recovery, the firm warns of near-term earnings growth challenges and advices investors to be selective amid market fatigue.
The brokerage said IT remained at its top underweight. BofA also said it remained underweight on staples, discretionary and telecom sectors. It continues to favor financial, industrials, cement, steel and select auto (two wheelers), utilities and healthcare as defensive plays. BofA remained normal weight on the energy sector
The brokerage further said it sees the Nifty upside at 19,700 and downside at 15,800 and base case is 18,000, down 4 per cent from the current market.
BofA Securities explained that the bear target for Nifty for 2023 is 17,000 because valuations are hefty and earnings downgrades are likely, while Foreign Institutional Inflows (FIIs) inflows could drive the Nifty to hit the bull target of 20,000. Meanwhile, the brokerage firm pointed out that the base case for 2022-end is 19,500.
Over the medium term, the foreign brokerage firm expects India’s earnings to grow fastest in the Asia-Pacific region, at 14 percent in the next five years against 10 percent compounded annual growth for the region.
Join Karunya Rao and Sahil Kapoor of DSP Investment Managers to know the overall mood of the markets.
BofA, however, estimates rural demand could now be close to a bottom, with a recovery likely in one or two quarters
The brokerage names 14 stocks that investors can bet on. Top picks from ICICI Securities include SBI, Axis Bank and HDFC Bank
With almost nil manufacturing activity in this 21-day period and slow ramp-up thereafter ICICIdirect downgrades Nifty earnings estimates to the tune of 4% for FY20E, 18% for FY21E and 13% for FY22E.
The medium term market outlook remains strong even as two risks, a weak monsoon and Brexit, could upset the applecart, says Vibhav Kapoor of IL&FS.
Even as the near-term outlook for the market remains a bit hazy, the market is headed sharply higher in the medium term, says Jai Bala of cashthechaos.com.
Phillip Capital maintains its Nifty target of 8,500.
Even as markets have bounced back a good 15 percent after bottoming out in February, there may still be a further 12 percent upside over the course of this fiscal, says Vibhav Kapoor of IL&FS.
With selling intensifying in the past few days, technical analyst Sushil Kedia says the ongoing correction has further legs to go but adds that there is a pot of gold at the end for investors who can ride the pain.
Gautam Chhaochharia of UBS Securities says one can't be too sure of retail investors participating in the market because they tend to look at the market from a 1/2-year returns point of view and the last year actually gave a negative return.
Given the spate of earnings downgrade the market has witnessed in the past, it will likely be difficult for it to move significantly higher in the near term, according to Anant Shirgaonkar, Head - India Equities at UBS Securities.