'See a bright future for markets in Samvat 2075 amid the current gloom'

Amidst this gloom, we stick our neck out and see the Nifty at 12,800 levels by Samvat 2075-end, says V K Sharma of HDFC Securities

The current year has been a complete washout. Everything that could have gone wrong, did in this Samvat 2074. Crude prices have surged 47 per cent till October and the Rupee plummeted 13.3 per cent against the dollar. Monsoon, too, was below normal. 
 

As if that was not enough, the US Federal Reserve (US Fed) went into a rate hike frenzy – hiking rates four times. Trump out-competed himself in tearing out one trade agreement after another and re-wrote almost everything, except the Bretton Woods Agreement. 
 

On the political front, the ruling party couldn’t fully utilise the tailwind of Tripura