December 19, 2019

Nifty may touch 13,400; Sensex 45,500 in 2020: Kotak Securities

The benchmark Nifty may touch 13,400 levels and Sensex 45,500 next year, and sectors like healthcare, agro chemicals, oil and gas are likely to do well, Kotak Securities said on December 19. "Market mood is more positive than what is reflected in the real economy mainly due to jump in earnings led by reduction in corporate tax rate and strong FPI flows supported by steady local SIP flows," Rusmik Oza, Senior Vice President and Head of Fundamental Research-PCG, Kotak Securities said at a press meet here.

Nifty-50 is trading closer to its peak valuations and is expected to touch 13,400 by end of December 2020. For BSE Sensex the target would work to 45,500 by next year, the Mumbai-based firm added.


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