Stock market outlook: Geopolitical tension and inflation are a big concern at the global level. All European countries including America, Britain are currently facing record-breaking inflation and interest rates are being increased by their central banks to control it. The US Federal Reserve on Wednesday raised interest rates by 0.75 percent for the third time in a row. The effect of this decision was visible in the form of a fall in the global market. On Thursday, trading started with a big fall in the domestic stock markets. Meanwhile, after talks with investors in the US, global brokerage firm Citi (CITI) has released a report on India Equity Strategy.
How will the market be?
Citi has said in India Equity Strategy that after the correction in the market, investors can re-enter some new stocks. Citi has given a target of 17,700 for Nifty till December 2023 and 17,000 for June 2023. Global brokerage says that the pharma sector can see a boom in the coming days. The firm has downgraded the pharma sector rating from ‘neutral’ to ‘overweight’. Citi has included Cipla in place of Tata Steel in its favorite stocks. Apart from this, Aurobindo Pharma has been included in the top midcap stocks picks.
Keep an eye on these stocks
CITI says that in talks with investors in the US on India Equity Strategy, many sectors including quality stocks including IT, Power, Auto, Telecom were discussed. The brokerage says that the most discussed stocks include ICICI Bank, SBI, M&M, Maruti, Ntpc, Power Grid, RIL, Infosys, TCS, Airtel, Nykaa, Paytm and zomato.
(Disclaimer: Investment advice in stocks is given by the brokerage house. These are not the views of Zee Business. Investing in the market is subject to risks. Please consult your advisor before making an investment decision.)