NEW DELHI: Kotak Securities on Tuesday said it expected National Stock Exchange (NSE) to touch the 13,000 mark by March 2020. The benchmark, perhaps after the Narendra Modi-led NDA government came to power for a second term, has already crossed the 12,000 mark.
Kamlesh Rao, MD and CEO, Kotak Securities said, “We expect Nifty to range between 12,500 and 13,000 by March 2020 (average around 12,750). In Bull (run) case, expect Nifty to range between 13,000 & 13,500 (average around 13,250),” The brokerage said markets were looking for stability, continuity and strong leadership rather than a fractured mandate.
A strong government at the Centre has raised investors’ expectations of reforms being carried forward in a more meaningful way. However, the firm underlined numerous challenges, including the trade war between the US and China.