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."

Facebook
COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
Email:    
Comments:
 
We got married recently. I am 32 and my wife is 3
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)You may have to reconsider an offer that had been made to you earlier. Those in government services can look forward to some favorable changes. You will be feeling much more confident of yourself. You will be able to sweep aside hurdles that are standing in your way until now. Personal relationships are happy and congenial. You will share moments of intimacy and togetherness with your mate or beloved.
- Advertising -
The real estate industry has a lot of expectation
What is the purpose of continuing Ferreira’s cust
Jammu and Kashmir Government is wooing tourists f
Read More