Citi lowers Nifty target by 5% amid Israel-Hamas war
Citi just lowered its December 2026 Nifty 50 target from 28,500 to 27,000, pointing to the ongoing Middle East conflict as a big risk for growth and company earnings.
With the conflict in its third week, both Nifty and Sensex have dropped about 8%; the indices have also registered a technical correction from their record highs, dropping about 10%.
Higher oil prices, supply chain hiccups expected to slow growth
Higher oil prices and supply chain hiccups, from essentials like LPG and fertilizers to metals, are expected to slow India's economic growth a bit and push inflation higher.
Citi also downgraded the auto sector due to these risks, dropping Mahindra & Mahindra and Mahanagar Gas from its top picks.
If you're tracking markets or thinking about investments, it's worth noting how global events can quickly shake things up at home.