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Nifty likely to reclaim record high by March, says ICICI Securities

The benchmark index has bounced more than 50% from its March low, but is still about 7% below its January record close

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2 min read Last Updated : Aug 27 2020 | 9:56 PM IST

India’s NSE Nifty50 Index is expected to reclaim its all-time high of around 12,400 by March as the V-shaped rally in stocks is likely to continue, according to the nation’s largest listed brokerage.

“We do not foresee any major shift in the current directional positive bias,” analysts at ICICI Securities, led by Dharmesh Shah, wrote in a note to clients. “Any correction should be used as an incremental opportunity to construct a portfolio of quality stocks.”

The benchmark index has bounced more than 50 per cent from its March low, but is still about 7 per cent below its January record close.

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Nifty likely to reclaim record high by March, says ICICI Securities

The benchmark index has bou­nced more than 50% from its March low, but is still about 7% below its January record close

The benchmark index has bounced more than 50% from its March low, but is still about 7% below its January record close