After two years of remaining cautious on the Indian stock market, Bank of America (BofA) Securities has turned constructive on Nifty and sees 12% upside potential in the benchmark index to rally to 26,200 by the end of the year.
In its latest note, BofA Securities highlighted that its earlier cautious stance that markets may stay volatile was driven by eight risks, out of which five have already played out or been priced in. The remaining three risks could pose a 7% downside risk for Nifty in its bear case but in its base case scenario, it sees potential for Nifty at 26,200 by December 2026.
