New Delhi: Global financial services company Citigroup Inc. has initiated positive ratings for the Indian stock market. The company anticipates that the domestic market will record gains for the 10th straight year, Bloomberg reported.
Citigroup backed the 5-trillion Indian stock to gain due to recovery in economic growth as well as robust corporate earnings. The global brokerage firm projected the NSE Nifty 50 to rise to the levels of 26,000, which indicated a 10 per cent return from its December 31, 2024 close.
Bloomberg quoted strategist Surendra Goyal stating that “India’s EPS growth outlook remains robust and relatively low risk given the diversified universe of listed companies.” He said 2025 could witness the Indian economy registering 6.5 per cent growth if it gets some policy support. He, however, cautioned that a robust private investment recovery could remain elusive.
Morgan Stanley has also projected the Indian market to record double-digit returns. The global brokerage predicted BSE Sensex to appreciate 18 per cent in 2025.
It may be noted that despite the foreign investors pulling out large sums of money in the second half of 2024, individual investors snapped up 1.5 trillion rupees worth of stocks on the National Stock Exchange of India Ltd. in the previous year.
Even as volatility continued in the Indian stock market in December 2024, the inflows into mutual funds’ equity schemes surged over 14 per cent on-month to Rs 41,156 crore in the last month of the previous year. Industry body Amfi said the investors continued to be attracted towards small and midcap schemes of mutual funds which helped the two categories touch record highs during the month.
The AMFI data showed that systematic investment plans recorded inflow of Rs 26,459 crore, while the SIP assets under management stood at Rs 13.63 lakh crore.
Overall assets under management of mutual funds in December 2024: Rs 66.93 lakh crore. It was Rs 68.08 lakh crore in November 2024.
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