India at Macquarie Capital says that
RBI could bite the bullet next quarter and cut interest rates. India at Macquarie Capital Securities
has a new Nifty target of 9,960 for the next 12 months. Excluding
earnings to grow 19-20 percent and adds that this fresh Nifty target
is driven by 15 times earnings estimate for FY17. Given the ongoing
slide in global oil prices, foresees more upside to the market if
this fall continues further.
Further adds that hope trade in India
will continue for some more time and the market is improbable to see
major correction anytime soon. If any correction happens, it will be
limited to 4-5 percent.
Shares HDFC, ICICI Bank,
Reliance Industries, Mahindra & Mahindra, Axis Bank and were top
contributors to the Sensex down 0.4-1 percent.
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