Bulls eye! Sensex seen at 87,000, Nifty at 27,000 by next Diwali: Experts
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- ✓Analysts expect Sensex and Nifty to reach new highs in Samvat 2083 starting November 8.
- ✓Experts said a structural revival is expected after two years of consolidation.
- ✓Vinit Bolinjkar said he sees "Nifty reaching 26,500–27,000 by the next Samvat year." Growth will likely be selective as corporate earnings show signs of revival.
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- MARKET
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- Business Standard
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- India Economy
Analysts expect Sensex and Nifty to reach new highs in Samvat 2083 on the back of comfort in valuations and earnings-led growth.
Photo: Kamlesh Pednekar
Saloni Goel New Delhi
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Backed by corporate earnings revival and moderating valuation excesses, analysts expect the benchmark indices to rise to new highs in the upcoming Samvat, which kicks off on November 8 this year. However, they advise against expecting a broad-based recovery, with the next phase seen as selective and measured.
On a more optimistic note, Vinit Bolinjkar, head of research at Ventura, said he sees Nifty reaching 26,500–27,000 by the next Samvat year, implying an upside of roughly 11–13 per cent from the current level of 23,700. This would broadly correspond to a Sensex range of 85,500–87,000, he added.
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