Get latest articles and stories on Latest News at LatestLY. Citing the faster-than-expected interest rate hikes by the Reserve Bank and the mounting inflation worries, Wall Street brokerage Bank of America Securities has slashed its base case Nifty returns target and forecast the index to close the year at 16,000, down from 17,000 projected earlier. Latest News | BofA Slashes Nifty Target to 16,000 by December on Inflation, Rate Hikes Concerns.