Afternoon D & C Dedicated To Mumbai
Home > Business > Nifty to hit 9,000-mark by Diwali

Nifty to hit 9,000-mark by Diwali

Wednesday, January 11, 2017

Leading retail brokerage firm HDFC Securities yesterday said that benchmark Nifty index is expected to hit 9,000 level by Diwali and is also likely to generate double digit returns at 12-14%, this year. The optimism is based on government's continued efforts towards structured reforms including roll out of the goods and services tax (GST), which according to the brokerage is likely to be implemented by mid-year.

"I believe the Nifty will hit the 9,000-level by Diwali (October 19, 2017) on account of structured reforms like demonetisation, GST and aided by normal monsoon," HDFC Securities managing director and CEO Dhiraj Relli told PTI here. The NSE 50-share Nifty index is currently trading at 8,200-level.

Relli also said that Nifty can be expected to generate double digit returns (12-14%), in 2017. Noting that demonetisation will cause only "short term pain and long term gain", Relli said that the situation in the economy should normalise by February-end. He also said that the adverse effects of the note-ban move would only be limited to growth numbers in the third and the fourth quarter of the current fiscal, he added. Observing that GST is likely to be implemented in June, this year, the brokerage said, "For stock market investors, GST matters because many listed businesses (assuming they are tax compliant) will get long term boosts via ease of compliance plus competitive advantage as unorganised competitors fall into the indirect tax net."

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
City news
87 candidates of State council polls face crimina
It is not suicide, their kin was murdered ...
The Central and Western Railway Engineers Associa
I am 33 year old man. I want to know whether ‘del
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)Business negotiations for fresh projects go through smoothly. Those in the field of sales and marketing will be in limelight. You are likely to get monetary gains through fresh projects or agency work. Some of you may be planning a trip abroad for work. A new friendship could create problems with a close associate who will be feeling very possessive about you. You will have to tactfully mange the situation.
- Advertising -
Different rooms in your home have different needs
Nishrin Parikh recently set a record for being th
…for all things warm and wonderful. As the temper
Read More