Nomura Lowers Nifty Target by 15% to 24,300, Forecasts Further Market Correction

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Nomura Slashes Nifty Target by 15% to 24,900, Warns of Further Market Correction

Although volatile, the Nifty 50 index has not declined as much as feared, despite the five IT stocks listed on the index wiping out over ₹1.5 lakh crore in value in just the first few minutes of the trading sessions. The losses in IT stocks are being offset by other index heavyweights. Here's a list of the stocks aiding the recovery in the Nifty.

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CNBC TV18•16-03-2026, 09:02

Nomura Slashes Nifty Target by 15% to 24,900, Warns of Further Market Correction

•Nomura cuts Nifty 50 target for December 2026 by 15% to 24,900 from 29,300, citing West Asia war and risk to consensus earnings estimates.
•Brokerage warns of a 10-15% risk to FY27 consensus earnings if oil prices stay elevated, trimming P/E multiple to 18.5x from 21x.
•Indian equities have corrected 8% in two weeks, with Nifty and Nifty Bank down 13% from record highs, similar to 2020 and 2022 falls.
•An additional 5% market correction is possible, especially for small and mid-cap stocks, driven by adverse FII flows.
•Nomura suggests a correction beyond 5% offers a long-term buying opportunity, favoring utilities, coal, oil producers, healthcare, pharma, consumer staples, and telecom.

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