Nifty 50 likely to touch 23,200 by end of 2024, ICICI Securities forecasts; check out top picks
The listed corporate profit is expected to approach around 5% PAT of GDP with RoE moving into a value-creating zone of more than 15%. In CY24, uncertainties related to general election outcome and further interest rate hikes would largely be over with no major shocks likely as per the trends so far.
The Indian stock market is entering a classic bull market and the Nifty 50 index is targeted to reach 23,200 next year, according to ICICI Securities. The upbeat domestic GDP growth with the rising capex cycle, the cyclical factors are expected to accelerate next year, which would drive the markets higher.
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