Nifty @ 24000: National Stock Exchange index Nifty can touch the level of 24000 in the year 2024. Emkay Institutional Equities has made this prediction. MK has said in its report that in 2024, a rise of 11 percent may be seen in Nifty and the index may go up to the level of 24000. The report also said that due to better earnings growth and sustained increase in return ratios, the small and midcap index may remain bullish in 2024 also. Earlier, Goldman Sachs has also said that Nifty can go up to 23500.
Prospects of record FPI in 2024-25
MK Institutional Equities said in its report that foreign investment in the Indian stock market may also cross the level of 2020-21. MK said in its report that the inflow into Indian equities in the financial year 2024-25 is expected to be more than $ 36.7 billion in 2020-21. According to the report, India's ability to handle large investments has improved due to its large market-cap base. At the same time, India will get the benefit of US Federal Reserve's interest rate cut in emerging markets and China's inability to attract foreign investment, due to which India will attract the most foreign investment.
Main themes of Manufacturing and Infrastructure 2024
Sheshadri Sen, Head of Research and Strategist, Emkay Global Financial Services, said, Nifty can give returns of up to 11 percent in 2024. He said that manufacturing and infrastructure sector will be included in the main themes of 2024. And Nirav Seth, CEO of Institutional Equities, said that the reduction in interest rates in India will not prove to be a stimulus for growth in India. However, it will definitely serve as a direction to take the stock market higher. He said that the reduction in interest rates will affect foreign portfolio investment. Foreign portfolio investment is going to be very strong in 2024. He said that during April to September 2024, positive results will emerge due to election results, strong budget, interest rate cuts by Fed and RBI and weakness in commodity prices.
Earnings of big banks will decrease
According to the report, there may be a decline in the earnings of most of the big banks in 2024-25 compared to previous years, which may impact the stocks of these banks. There will be a reduction in the margins of banks due to which the performance of bank stocks may remain weak.
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