Nifty At New High: The index Nifty of the National Stock Exchange can go up to the level of 20,500. Goldman Sachs has made this prediction. The brokerage house said that Nifty can give a return of 12 percent from the current level and by the end of 2023 it can touch the level of 20,500. The Nifty closed at 18,267 points on Wednesday.
Goldman Sachs has said in its report that by the end of 2023, due to better results, the NSE index Nifty can go up to the level of 20,500 with a return of 12 per cent. It has been said in the report that there will be a recovery in growth in the second half, due to which shopping can return in the market.
In the report, the brokerage house said that they are overweight on banking, insurance, industrial-cement, NBFC, durables and utilities. According to Goldman Sachs, Indian markets have performed better than the Chinese market for the last two years. According to the report, the Indian market has outperformed due to its strong domestic fundamentals, but the Indian market has become costlier than the global market. Going forward, it may underperform.
According to Goldman Sachs, the Indian stock market will not perform well for the third consecutive year in 2023. Due to the removal of restrictions and expectations of global recovery in 2024, China’s market and Korea can perform better.
News Reels
Let us tell you that Nifty is still trading below its lifetime high. On 18 October 2021, Nifty touched the highest level of 18,604. Nifty has not been able to break that level yet. But Goldman Sachs believes that by the end of 2023, Nifty can reach the level of 20500, leaving behind its old high. Let us tell you that Nifty index is an index of 50 big companies listed in the stock market.
read this also
Amazon India Layoff: Ministry of Labor sent notice to Amazon India on retrenchment of employees!