Indian markets mirrored global trends as major indices, including the Nasdaq and S&P 500, closed at over a week’s low on Tuesday. Semiconductor stocks experienced significant declines, fueled by investor concerns over debt-fueled AI spending and anticipation of a more hawkish stance from the U.S. Federal Reserve. Traders are now pricing in a higher likelihood of a second interest rate hike by December.
Citi bullish on Indian equities, sees Nifty at 28,000 by end-2027
Citi Research projects that India’s benchmark Nifty 50 index could hit 28,000 points by the end of 2027. This forecast is based on strong earnings