Indian economy will take longer to recover from Covid-fuelled slump: JPMorgan
Updated: 24 May 2022, 09:21 AM IST
TL;DR.The Nifty has lost 12 per cent since hitting a record in October as concerns about the US Federal Reserve’s rate hikes and high inflation. However, the Nifty is still faring much better than the MSCI Emerging Markets index, which has fallen by 16 per cent.
BofA Securities cut its Nifty target to 16,000 from 17,000 earlier, on the back of interest rate hikes, Inflation worries.