Indian market closed the year 2019 on a buoyant note with Sensex and Nifty50 rallying over 10 percent. It was a historic year for D-Street as Sensex made a new high above 41,800 while Nifty50 came close to 12,300 levels.The year 2020 will also be a year when benchmark indices will hit new milestones and probably Nifty will surpass 13,000 levels and 45,000 mark for Sensex, suggest experts.Foreign institutional investors continued to reaffirm their faith in Indian market in 2019, and the trend is likely to continue in 2020 as well. In CY19 till date, India has attracted USD 14.3 bn from FPIs and USD 7.5 bn from local mutual funds.Close “We expect FPI flows could remain positive in CY20 and SIP flows to remain sticky with an annualized run rate of ~USD 14-15 bn. Earnings of Nifty-50 is expected to report a robust 19% compounded annual growth rate (CAGR) for next three years, a sharp increase over the previous three years CAGR of 8%,” Rusmik Oza, Sr. VP (Head of Fundamental Research-PCG), Kotak Securities Ltd told Moneycontrol. related news Hot Stocks: Here’s why DCM Shriram is a buy for short-term returns What changed for the market while you were… Read full this story
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