GOLDMAN EXPECTS NIFTY TO RISE BY 9% IN 2024

Global financial powerhouse Goldman Sachs has raised the target level for NSE's Nifty index for 2024 to 23,500 points - a 9% rise from current levels. For the sensex, this translates to a target of 80,000 points by this year-end. Its analysts are overweight on banks, autos and industrial stocks. The upward revision in Nifty's year-end target by Goldman Sachs - its second upgrade since mid-November - was backed by improving external macro fundamentals and a resilient domestic economy that combined to raise expectations of a rate cut by RBI by the third quarter of 2024.

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