Earnings commentary, dollar index to drive Indian equity market, says Axis Securities
“We maintain our Nifty Mar’23 target to 18,400 by valuing it at 20x on FY24 earnings vs. 22x earlier. We recommend investors maintain good liquidity (10%) to use dips in the market in a phased manner to build a position in quality companies (where the earnings visibility is very high) with an investment horizon of 12-18 months,” the brokerage said.
