Stock market outlook: Can Nifty 50 touch 25,000 by end of CY24? Here’s what experts predict

Stock market outlook: Indian benchmark equity indices staged a sharp rebound on Friday, recovering from their steepest decline in nearly two months during the previous session. 

The BSE Sensex climbed 805 points or 1 per cent, to reach an intraday high of 79,848.76. Similarly, the Nifty50 gained 230 points or 0.96 per cent to 24,144.45. This comeback follows a 1.5 per cent drop recorded in the previous session, highlighting a swift turnaround in market sentiment.

The Nifty has lost 0.45 per cent in November after a 6.2 per cent decline in October. Meanwhile, it has shed over 8 per cent from its peak of 26,277.35, hit in September. 

Nifty 2024 targets

As markets remain volatile, experts weigh in on whether the correction will persist or if a rebound is on the horizon. Here's what analysts predict for the Nifty50 by December 2024.

Apurva Sheth, Head of Market Perspectives & Research, SAMCO Securities remains optimistic on the market, forecasting a year-end target of 24,700-25,000 for Nifty. However, he advised investors to keep a broader perspective, suggesting that Nifty could trade within a range of 23,200-26,200 over the next 8 to 12 months.

Jathin Kaithavalappil, Assistant Vice President, Choice Broking also offered a bullish outlook, setting a Nifty target of 26,500 by December 2024.

Meanwhile, Ajit Mishra, SVP - Research, Religare Broking anticipates the Nifty reclaiming the 25,000+ zone before year-end, though he remains cautious about the index’s ability to sustain these levels in the face of ongoing market volatility.

Echoing similar views, Jigar S. Patel, Senior Manager - Technical Research, Anand Rathi Shares and Stock Brokers also sees Nifty at 25,000 by December end. 

He pointed out that the FII long-short ratio has improved from 22 per cent on November 13, 2024, to 33 per cent as of November 25, 2024, indicating a gradual recovery in foreign investor sentiment.

“With technical indicators showing signs of improvement, we expect Nifty to reach 25,000 by the end of December, offering a potential upside of approximately 3.5 per cent from current levels,” Patel stated.

The Indian markets have faced significant headwinds, from geopolitical tensions in Ukraine to weaker-than-expected U.S. inflation data, both of which have dampened investor sentiment. While some analysts remain optimistic about a year-end rally, targeting levels around 25,000-26,500, others urge caution, highlighting critical resistance zones and global risks.

For investors, the current environment calls for a balanced approach—focusing on disciplined, long-term strategies while being mindful of short-term volatility.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before taking any investment decisions.