Citigroup raised its year-end S&P 500 index target to 6,600 from 6,300, betting on corporate earnings strength fueled by benefits from President Donald Trump's tax and spending bill, it said in a note on Friday.
The RBI sold at least $5 billion in onshore and offshore markets this month to curb rupee volatility, as it neared a record low amid higher US tariffs and inflation risks.
Nilesh Shah of Kotak AMC emphasizes focusing on resilient companies with reasonable valuations amidst global uncertainties. He highlights India's strong IPO pipeline driven by entrepreneurs from smaller towns, mirroring the evolution of the Indian cricket team. Kotak Mutual Fund favors domestic consumer discretionary sectors, anticipating growth from tax cuts and potential GST rationalization, prioritizing bottom-up stock ideas.
Nifty is attempting a bounce back after breaking the 24,500 support level, now trading in a 24,300-24,500 range. Rajesh Bhosale of Angel One suggests focusing on stock-specific action, highlighting PSU banks' strength. He recommends buying Indian Bank around 662, targeting 690, and Tech Mahindra around current levels, targeting 1580, citing bullish patterns.
