Smart Talk: Nifty seen @ 24K in 2024; Nishit Master highlights 3 risks which could derail bull rally

“Our year-end Nifty50 target is 24000, which means we are looking at a high single-digit return this year from the index,” says Nishit Master, Portfolio Manager, Axis Securities PMS. In an interview with ETMarkets, Master said: “If investors sense that we might witness policy uncertainty post-elections, this bull rally can derail”. Edited excerpts:

Sensex@75K, Nifty@22K – should investors be worried or do you see FOMO in the market? Where do you see the market headed?
Our year-end Nifty50 target is 24,000, which means we are looking at a high single-digit return this year from the index.

We witnessed a significant run-up in the markets last year, which has made the overall markets expensive as compared to their historical valuations, but we expect earnings growth for Indian companies to remain strong, which should aid the market overall.

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