Stock Market: Before investing money in the stock market, read this fatal prediction, a great “tsunami” is coming.

Photo: FILE stock Exchange

Sotck exchange : The start of the current fiscal year has not been good for Indian equity markets. The stock market fell sharply amid falling computer stocks and fears of a recession in the US market. But the picture to come could be even more dire. According to market experts, more correction can be seen in the market and Nifty can reach 15600.

US brokerage firm BofA Securities has indicated more problems for investors in Indian stock markets in the coming times. BofA expects a further 10% “correction” in the benchmark by December. The brokerage firm said the Nifty of the 50-stock National Stock Exchange will remain at 15,600 points until December 31, 2022. Earlier in June, BofA had forecast the Nifty to be at 14,500 by the end of December. The company has now revised its estimate.

Markets have recently seen strong buying after strong selling associated with an influx of foreign investors. Earlier, foreign investors withdrew more than $29 billion from domestic stock markets.

BofA analysts said in a note: “We remain cautious about the current volatile environment and concerns of a global slowdown.” Apart from this, the brokerage also stated some positives such as rising crude oil prices, depreciating rupiah and moderating domestic inflation. Things have also been reported.

Nifty is now at 17659

BofA forecast the Nifty to reach 16500. On the other hand, when the market closed on August 11, the Nifty closed at 17.659 points with an increase of 124.25 points of 0.71%.

The rupee breaks against the dollar

The Rupee lost 36 paise to close at Rs 79.61 against the US Dollar. For the past few days, there has been a lot of volatility on the rupee. The rupee was trading between 79.22 and 79.31 at the start of the session. On Wednesday, the rupee gained 38 paise to close at 79.25 against the US dollar.

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