'1,500-1,600 pts Nifty fall in 3 months': JM on what if market benchmark slips below 22,000
JM Financial is in focus.
· Business Today Mkts
Stock market outlook: JM Financial said markets are at an extreme level of pessimism, with 22,550-22,180 forming a make-or-break zone for Nifty. If a recovery begins, it expects largecaps to do well.
The analysis
Against that, the stock is -6.3% on the day at ₹106.80, and has returned -10.8% over three months. It sits 38% below its 52-week high, which means a good deal of bad news was already in the price. The capital markets sector has moved -6.6% over the same period, so JM Financial is running 4.2 points behind its peers.
For JM Financial, the question is how much of this is already reflected in the price and how much re-rates the capital markets peer set alongside it.
Market context
- The company directly in focus is JMFINANCIL.
- Sector exposure: Capital Markets, Financial Services.
- The immediate tone of coverage reads negative.
In this story
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