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2024-11-22 11:01:23
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2024-11-22 11:01:23Event JSON
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"Goldman Sachs has revised its prediction for the Indian equity market, expecting it to remain rangebound over the next three months. The brokerage firm expects the Nifty 50 to hit 24,000 points, a gain of 3% from current levels. This is a reversal from its previous prediction of a 1% decline. The firm attributes the change to the recent slide into correction territory, driven by record foreign outflows and underwhelming corporate earnings. Despite the recent de-rating, valuations still remain above a 'fair-value' estimate of 21 times forward earnings."
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