There is no end to this decline. Do you feel the same? Actually, the disappointment of investors who were hoping for a recovery in the market is increasing. As soon as the market opened on 24 February, a big decline was seen in Sensex and Nifty. Sensex fell 0.74 percent i.e. 540 points to 74,786. Nifty also fell 0.72 percent i.e. 162 points to 22,634. Investors are disappointed with this decline. Especially those investors who have invested in shares at high levels in the last one and a half to two years are in huge losses. The high-rising stocks have fallen more than 30 percent from their peak. This is one of the longest market corrections in the last 10 years.
How much more will the market fall?
The question is how much more will the market fall? Will the sunset of this decline be short? Market analysts believe that the market should recover soon. Foreign brokerage firm Citi Research says that Nifty can reach 26,000 by December this year. This is a 13 percent increase from the current level. Citi also believes that the recent decline has brought the stock prices to an attractive level. Investment opportunities are visible in many large-cap stocks.
What will be the level of Nifty by December?
Foreign brokerage firm Nomura says that Nifty can reach 23,784 points by the end of December this year. It has to be kept in mind that Nifty has crashed 16 percent in dollar terms from its peak of September 2024. Nomura has projected Nifty to remain in the range of 21,800-25,700. This means that Nifty can fall another 5 percent from here. In case of bullishness, Nifty can rise 12 percent. Looking at the commentary of Citi and Nomura together, it becomes clear that it is difficult to say anything with certainty about the market right now. Amidst this decline, focus can be placed on some selected stocks.
JSW Infra's stock saw a decline on February 24. However, on February 21, the stock saw a continuous rise. It rose 6.9 percent to reach Rs 254. The reason for this is that brokerage firm Motilal Oswal Financial Services has called this stock its first choice in the port sector. The brokerage firm believes that the annual growth of cargo traffic can be 3-6 percent. Due to this, the utilization level can be around 55 percent in the medium term. The growth of container traffic is expected to be 4-7 percent annually in the next five years. JSW Infra will benefit from this.
This stock was showing a weakness of about 70 percent in the morning on 24 February. On February 21, this stock closed 6 percent higher at Rs 496. The reason for this is Morgan Stanley's report. It has expressed hope for a rise in this stock. Its target price has been given as Rs 545. Actually, this company is expanding its business in renewable energy, storage assets and thermal energy. Its EBITDA CAGR is estimated to be 24 percent during FY24-28. In such a situation, this stock looks attractive for long-term investment.
