Emkay sees Nifty at 24,500 by year-end
Emkay Investment Managers expects the Nifty to reach 24,500 levels by 2024-end and has set a target of 26,500 on the index by end of 2025. The Nifty closed at 22,888 on Tuesday.
Manish Sonthalia, chief investment officer at Emkay Investment Managers, suggested investors to follow a multi-cap approach with equal proposition in large-caps and mid-caps to take advantage of a broad-based growth in Indian equity markets.
In the near term the markets will fare well if the National Democratic Alliance (NDA) comes to power with a base case of 330 seats, ensuring policy continuation.
«BFSI, PSUs, and industrials are expected to do well. BFSI has led the earnings growth and seen a correction in valuation,» said Sonthalia. «Investment-related themes will come into play with power capex building up in the next 3-5 years.»
He also said that some of the government entities in defence, oil marketing companies and power financiers will have an advantage over others, and pharmaceuticals are expected to see a turnaround.
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