Story thread · 4 reports / 1 sources

BofA turns bullish on Nifty, forecasts 12% upside by December

economictimes.indiatimes.com · 8hShare

Mumbai: BofA Securities has turned constructive on the Nifty after nearly two years of caution, projecting the index to reach 26,200 by December 2026. This implies an upside of about 12% from current levels. The brokerage, which has maintained a cautious stance since August 2024, said five of the eight risks it had previously flagged have either materialised or are now reflected in valuations.BofA said the two key near-term risks facing the market are potential US Federal Reserve rate hikes and heavy primary-market issuances. It expects both risks to peak by October, creating room for a Nifty rally from November. The impact of artificial intelligence on Indian employment remains a longer-term structural risk.Read more: FIIs sell Indian shares worth Rs 14,475 crore in Sept; analyst warns soaring bond yields may deepen selloffThe brokerage expects about $30 billion in primary-market issuances between September and December, with activity peaking in October. It also expects the Federal Re

First report: Market Outlook: Can Nifty find its footing as crude, Fed policy drive markets? — economictimes.indiatimes.com, 2d