May 31, 2023

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Sell Nifty@18,000, buy when it dips to 16,000: BofA Securities

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BofA Securities recommends investors to book profits in Indian equities and advises buying into the dips if Nifty50 moves towards 16,000 level. While domestic flows remain resilient, global slowdown risks and potential volatility in commodity prices do not reflect in the earnings growth expectations for India Inc. The brokerage expects large-cap stocks to outperform mid and small-cap stocks and is bullish on financials, industrials, cement, steel, select automobile names, and utilities and healthcare as defensive plays. BofA Securities suggests investors follow a “buy on dips” strategy in case of a fall in Indian markets during a US recession situation.

2023-05-04 04:24:33

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