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Below a quote on Nifty crossing 20,000 levels Mr. Amar Ambani, Group President and Head- Institutional Equities, Yes Securities

“Nifty has crossed 20,000 after a period of market consolidation. A global rally in yields have helped keep sentiment in equities intact. We’re hopeful that interest rates are close to their peak. Disinflationary trends are already being felt in the US, in commodities, airlines and automobiles. Consensus expects US inflation to be sub 3% next year. The ECB is also confident of bringing down inflation to 2% by 2025.

There's also hope on the geopolitics front, that the Israel-Hamas conflict won’t spread to the whole of the Middle East.

We’ve had a good results season recently in India and part of it could be attributed to a possible pre-election rally. India stands out in the world and as an alternative to China and domestic liquidity continues to be strong.

Our banks are well provisioned and capitalized, our corporates are deleveraged and there’s no housing bubble in India. If bond yields stabilise and also the INR, then FIIs will be strong buyers in Indian equities, and Nifty can deliver a 20% return next year.”

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