Indices ended at record-high, where Sensex, Nifty will be at by year-end?
BSE Sensex ended at 32,037.38, up 232.56 points or 0.73%, while NSE Nifty 9,891.70, up 75.60 points or 0.77%.
Markets on Thursday closed at record-high for the fourth consecutive day. BSE Sensex ended at 32,037.38, up 232.56 points or 0.73%, while NSE Nifty 9,891.70, up 75.60 points or 0.77%.
The credits for the touching new high could be given to the hopes for policy rate cut by Reserve Bank of India (RBI) in its next bi-monthly policy scheduled for next month on back of sharp drop in inflation.
India`s annual consumer price inflation eased to a lower-than-expected 1.54 percent in June, the lowest since a new index was adopted in 2012, from 2.18 percent in May. With this, the investors and experts expect RBI to consider rate cut next month.
However, having totally opposite view, Amit Goenka, Analyst at multibaggerstocks.co.in said, "I expect nifty to be between 8000-8500 before the end of the current financial year. A major correction has been due for a long time. And, Sensex to be back at 25000-26000 mark."
Motilal Oswal said, "Nifty index continued its up move with the formation of higher lows for nine consecutive session and registered a fresh life time high of 9897 levels. It opened gap up and made a Bullish candle on the daily chart. Now it has to continue to hold 9850 zone to witness an up move towards 9950-10000 zones while on the downside supports are seen at 9820 then 9750 mark."
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