Brokerage Company Prabhudas Lilladher has predicted the National Stock Exchange (NSE) standard index Nifty to reach the level of 25,800 by December this year. The company said in the report released on Thursday that the stock market is expected to remain bullish in view of stable economic policies and the possibility of increase in demand due to normal monsoon. Amidst this rise, Nifty may reach 25,800 points at the end of December.
There was a decline of up to 4%
According to the report, Nifty can go up by 3,239.65 points or 14.35 percent from its current level by the end of December this year. Nifty is currently trading at the level of 22,570.35. “Recently, Nifty had hit its all-time peak. But this was followed by rising geopolitical tensions, volatility in crude oil and commodity prices and interest rates by the US Federal Reserve,” said Amneesh Aggarwal, head of institutional research at Prabhudas Lilladher. Due to different views on rate adjustment, it declined by about four percent.”
First week of June is important
Aggarwal said that Nifty is expected to reach the level of 25,810 by December 2024. “The credit for Nifty’s rise goes to the continuity of the NDA government and normal monsoon. This is expected to bring stability in policies and increase demand,” Prabhudas Lilladher said in his latest report. At present, the process of general elections is going on across the country and the new government is expected to be formed in the first week of June. He said that despite the pre-election survey predicting the victory of the National Democratic Alliance (NDA), the first week of June will be important from the market point of view.
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