JPMorgan's Rajiv Batra forecasts Nifty 27,000 between November and January
JPMorgan is betting that the Nifty index will reach 27,000 between early or mid-November and the end of January.
Rajiv Batra, Head of Asia and Co-Head of Global Emerging Markets Equity Strategy at JPMorgan, shared this upbeat forecast at a recent conference in Mumbai.
Still, not everyone's convinced. A lot of investors are staying cautious because central banks might raise interest rates and Japanese bond yields are climbing.
Mid and small caps attract investors
Even with the positive outlook, many investors are holding back due to global rate hike worries and seasonal slowdowns (like those around US midterm elections).
Interestingly, there's a shift happening: more people are moving from big-name stocks to mid-cap and small-cap ones.
More than 300 stocks now trade at least $10 million a day on average. Foreign investors seem more interested in these smaller companies too.
Sectors like tech hardware and financials remain JPMorgan's favorites, especially private banks, which it sees as solid bets for both growth and value right now.