Positive on budget, Nomura ups Nifty target to 12,900 by March
Updated : July 17, 2019 07:29 AM IST
The brokerage expects the 50-share Nifty to scale the 12,900 mount by March 2020 as against the earlier target of 12,250 largely on low valuations.
It can be noted the on the budget day on July 5, the indices closed with the third largest fall since in 2014 losing over 2 percent each, and shaving off over Rs 3.4 trillion of investor wealth.
The next few days also the markets tanked wiping out the entire gains since the election results were announced on May 23, spooked by the super-rich tax and the plans to tax foreign investors coming in as overseas trusts.