Nifty and Sensex staged an impressive comeback on November 29, recouping losses from the previous session's selloff as a surge in pharma, infra, energy, and auto stocks lifted market sentiment, setting the stage for a strong close to the week. Here’s a look at the top gainers and losers in trade today #sensex #nifty #stockmarket #stocks #sharemarket #equity #nse #bse
The hope fuelled rally rests on effective vaccination of a population of 1.3 billion in early 2021 and that magically the vaccine will also provide employment, infrastructure development, efficient capital allocation and capacity utilization to take the economy back to a path of strong growth
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.
"Although the possibility of Sensex 22,000 remains real, it is no longer our base case scenario, thanks to the firefighting done by the RBI and the Banks Board Bureau," Ambit said in a note.
Indian shares have priced in a lot of good news and have now started looking a bit expensive, says Devendra Joshi, Equity Strategist - Asia Pacific, HSBC.
HSBC's Jitendra Sriram, says Maruti Suzuki can post a decent upside from its current levels. A weaker yen and its foray into other interesting space will take the stock to Rs 6000 levels in the next two years, he adds.
Nilesh Shah of Envision Capital says the government must now look at non-strategic areas for divestment and suggests making Life Insurance Corporation of India (LIC) a public entity.
ICICIdirect.com has come out with its market strategy report for 2015. "Factoring in the fall in inflation, comfortable CAD, improved sentiments and pick-up in GDP growth, we expect the Sensex EPS to grow at a CAGR of 17% over FY14-17E", says the research firm.
Jitendra Sriram of HSBC says they are overweight on India with Sensex target of 30,000 for CY15.