Nifty’s Decade: 2030 Target at 50000.
In its recent technical outlook report, ICICI Direct stated that it sees Nifty 50 touching the 50,000 mark by 2030-end.
According to ICICI Direct's report, Indian equities are likely to display the same rhythm that the US and Nikkei did in 1990-2000 and 1980-1990, respectively, i.e. delivering a decadal move of 5x on headline indices.
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| image source Icici |
A decade ago, in December 2012, the Nifty 50 ranged between 5,800 to 5,900 levels. Taking into consideration the new lifetime high of 18,887.60 which was recorded on December 1, 2022, the benchmark has skyrocketed by a huge 13,017 or 222% in a decade.
But taking into consideration December 19, 2022 level, still Nifty 50 has witnessed robust growth of 12,491 or 211% from the 5,929.60 level on December 19, 2012.
Explaining the decadal cycle, ICICI Direct revealed that since its inception in 1979, the Sensex gained an average of 4x in each decade. From the CY20 close of 13981 (Nifty) similar projection leads to ~56,000.
However, the brokerage believes that such long-term trends often have to navigate through bouts of volatility.
India’s decade, ride with conviction.