HDFC Securities sees Nifty hitting 12,400 in 2019; 6 sectors it is talking about
Among the key events, the market will watch keenly next year are Brexit, European Union Parliamentary elections, and general elections in India
The Nifty target for the calendar year 2019 has been set at 12,400, analysts at HDFC Securities shared in a note. They believe that the market could move towards a cautious return-seeking position along with higher volatility.
Among the key events, the market will watch keenly next year are Brexit, European Union Parliamentary elections, and general elections in India. Meanwhile, positive cues for the market include reasonable valuations, sentiment in favor of emerging markets (EMs) should trade risks reduce. Along with it, it is betting on a recovery in corporate earnings and seven out of 12 IBC cases getting solved. The concerns highlighted by investors include reduced spending by government, leading to lower offtake growth in auto, FMCG and media, among others. Further, continued rise in rates by US Federal Reserve along with mutual fund tapering off post general elections could weight, it says.- Financials: The brokerage believes one could look for capable management that is positioned for growth in the long term. SBI and BoB, which have better capital and better operating practices will follow the secular path.
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