NSE Nifty Down: American brokerage firm Bank of America Securities has slashed the Nifty estimates amid continuous selling in the stock market. According to the brokerage firm, reducing the ‘return’ estimate of Nifty, it is expected to be at 16,000 mark at the end of the year. The brokerage firm has made this change in its estimate in view of the earlier increase in the repo rate and the rising inflation.
Reduced previous estimate to 16,000
Bank of America Securities said in its report released on Tuesday that given the current situation, the market expects flat ‘returns’, hence the previous estimate of NSE Nifty closing at 17,000 mark in December has been reduced to 16,000 points.
Nifty may slip till the level of 13700
Along with this, he has also warned that in case of very bad situation, the index may remain at the level of 13,700 points with a major fall of up to 15 per cent in Nifty till December. After touching many new highs, the stock market closed with a rise of 18 percent in the financial year 2021-22. There was a growth of 24 percent in the calendar year 2021.
Today investors got profit of 12 lakh crores
Let us tell you that after the continuous decline, there has been relief in the market today. The Sensex closed up 1344 points on Tuesday. During this, investors have made a profit of Rs 12 lakh crore. After today’s trading, the Sensex closed at the level of 54,318.47 with a gain of 2.54 percent.
How much did the market cap of Sensex increase?
With the rise in the stock markets, the market cap of BSE listed companies increased by Rs 12,05,523.65 crore to Rs 2,55,55,447.68 crore. Ajit Mishra, vice-president-research, Religare Broking Ltd. said, “After five weeks of decline, it is a matter of relief for the bulls.” Along with this, Sensex companies include Tata Steel, Reliance Industries, ITC, Wipro, ICICI Bank. , Larsen & Toubro, HCL Technologies and Maruti were the top gainers.