Nomura, Citi cut year-end targets for Nifty

WAR, ELEVATED CRUDE PRICES WEIGH

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CITING CONCERNS OVER rising oil prices and market uncertainty, brokerage houses Nomura and Citi have reduced their year-end estimates for the Nifty 50.

Nomura has revised its December 2026 estimate by 15% — from 29,300 to 24,900, while Citi Research had cut its estimate by 5.26%, from 28,500 to 27,000.

The Nifty 50 has declined by 1,770 points, or 7.03%, since the start of the war on February 28, while BSE Sensex has declined by 5,784 points or 7.12%.

While calling a further 5% correction in the near-term a ‘distinct possibility’, Nomura said smalland mid-cap stocks are at relatively greater risk in the current market.