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Nifty likely to touch 20,919 pts in FY-2023: Kotak Securities

Mumbai: With the World Bank forecasting India to grow at 6.9 per cent in Financial Year 2023 and 6.6 per cent in FY24, the country’s economic and earnings recovery coupled with capital expenditure cycle, (including PLI scheme) is expected to keep domestic markets attractive over the long term, said Jaideep Hansraj, managing director and chief executive officer, Kotak Securities Ltd, on Tuesday.
Nifty’s target for the year 2023 is at 18,717 points, while in a bull run Nifty’s benchmark could reach 20,919 points, he said in a release issued here.
On the MCX, gold may trade in a range of Rs 48,500-Rs 60,000 per 10 grams, he said.
While crude oil is expected to trade in a range of USD 60 per barrel (bbl) – USD 100 / bbl, and MCX Crude is expected to trade in a range of 4,700-8,300, he added. (UNI)

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