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Allcargo Logistics shares to trade ex bonus, AIK Pipes IPO listing in Top News on January 2: Share market, Bank Nifty outlook, Kay Cee Energy & Infra IPO to close, petrol, diesel price also in focus.
"Nifty is now 20x 1-year forward - higher than the past 10-year average, but relative to EM (ex-China) the premium at 67% is only somewhat higher than the historical average. Also, on a PEG basis, the Indian market appears reasonable," said Jefferies.
Nifty return outlook 2024: Kotak said the returns in 2024 will depend on the tussle between fundamentals and sentiment. In an entirely ‘fundamental’ market, returns will likely be modest for the market and negative for many stocks.
An ETMarkets poll of 23 analysts from Dalal Street shows that most analysts see Nifty ending at 23,000. In the base scenario, Axis Securities sees Nifty at 23,000 in December 2024 by predicting that earnings will grow at 14% CAGR over FY23-26