Nomura releases Nifty’s 2024 target

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In its latest report Nomura India has recently come out with Outlook 2024 report which has detail analysis of the Indian economic landscape as well as Global and domestic economic conditions .This reports takes into consideration various factors like continued disinflation , falling economic conditions, Macro Economic conditions , oil prices general elections etc report and sees nifty target at 24260 for 2024 which is 12% upside

Discussing the Indians economic factors falling suggesting a positive impact on the financial market from the Global Outlook states that the Global growth will witness a modest slow down but at the same time it is optimistic about the Indian market the report highlights of the Indian economy suggesting that it will not be impacted by the Global outcomes

  • Nomura India’s Nifty target for 2024 : 24,260, * 20 times December 2025 earnings.
  • 12% potential upside from the current levels
  • Top Largecap Picks: ICICI Bank RIL M&M l&T Godrej Consumer
  • Small Cap and Mid : Federal Bank Ltd, Coforge , Lupin Pharma , Medplus Ltd, Dalmia Bharat Sansera Eng

Earnings Outlook: Nomura acknowledges near-term earnings risk to be in the modest range ,but could increase in medium term .

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