Nifty target raised to 28,000 from 26,000, says Citi; here's why
Indian markets moved higher in a quarterly results development.
· Business Today Mkts
A $10 decline in oil prices improves the current account deficit by 30-40 basis points (bps), lowers inflation by about 50 bps and boosts Nifty earnings per share (EPS) by about 2 per cent, Citi said.
The analysis
Earnings versus expectations is what actually re-rates a stock; the surprise matters more than the absolute number.
Because the driver here is macro rather than company-specific, the read-through is to index-level positioning rather than to any single name — correlations tend to rise when the whole market faces the same signal.
Market context
- A market-wide development: it reaches beyond any single stock.
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