BofA’s Top Stocks
Bank of America has reduced the year’s target for Nifty, anticipating the continuation of pressure in the domestic stock market. However, it is expected that some stocks will perform better in such a situation.
The pressure in the stock market remains constant. Sensex trading above the level of 60 thousand on April 5 (sensex) has come down to the level of 52300 at the moment. The situation is that BofA Securities expects the market to continue declining and at the same time Nifty (nifty) has also reduced the year-end target. However, it is not that the brokerage firm is thinking negatively about the entire market. domestic market ,stock marketThere are many such companies in the list, about which BofA is also very positive and is anticipating that it will see growth in the coming time. In such a situation, if you are also looking for investment opportunities in the midst of a fall in the market, then you can take a look at these stocks of BofA.
Which stocks do BofA trust?
According to the Economic Times report, Bank of America has expressed its confidence in a total of 12 companies from banking, pharma, NBFC, auto, IT, real estate and cement sectors. In the banking sector, Bank of America has chosen HDFC Bank and ICICI Bank. According to the broking firm, risk rewards have become very attractive for both the banks in the current conditions. On the other hand, due to the recent correction in the stock of ICICI Bank, the level of the stock has become much better. On the other hand, Sun Pharma, Gland Pharma and Biocon in the pharma sector, Bajaj Finance in the NBFC sector, SBI Life, M&M and Eicher in the auto sector, HCL Tech in the IT sector, Lodha in the real estate sector, UltraTech Cement in the cement sector.
Target cut for Nifty
On the other hand, Bank of America has reduced the target of the year for Nifty, anticipating the continuation of pressure in the domestic stock market. American brokerage firm Bank of America Securities has reduced the return estimate in the Nifty to 16,000 points at the end of the year. The brokerage firm has made this change in its estimate in view of the earlier increase in the repo rate and the rising inflation. Bank of America Securities said in its report released on Tuesday that given the current situation, the market expects flat returns. Therefore, the previous estimate of NSE Nifty closing at 17,000 points in December has been reduced to 16,000 points. Along with this, he has also warned that in case of very bad conditions, the index may remain at the level of 13,700 points with a major fall of up to 15 percent in Nifty till December.
(The stock given here is based on the advice of the brokerage house. While taking any investment decision, check the advice at your level first. Investing in the market has its own risks, take any investment decision wisely)