Nifty Will Likely Hit Record High In 2025, Says Goldilocks Global's Gautam Shah
The NSE Nifty Bank could also post fresh highs. Goldilocks Global Research sees the index touching the 60,000-mark. NSE Nifty Metal and NSE Nifty Realty are also projected to rise significantly.
NSE Nifty 50 will likely hit a fresh high in calendar year 2025 as underlying factors indicate a bull market sentiment, said Goldilocks Global Research Founder Gautam Shah.
The last 10-day trend suggests Nifty 50 is moving into the 500-point range despite current developments. The Nifty 50 index has not corrected even 2–3% after it witnessed a 'fabulous' run in the last two and a half months. This implies underlying strength. This means that Indian markets are showcasing bull-market characteristics; the momentum is excellent. The participation is great, Shah said in an interview to NDTV Profit.
The Nifty 50 is just 5.8% away from its record high of 26,277.35 as compared to Tuesday's close of 25,826.20.
At the beginning of 2025, nobody expected to see the Nifty 50 at 25,000 because of expected economic slowdown, tariff-related uncertainty, and foreign fund outflows. Ample liquidity is supporting the resilience, he said.
"I do believe that the market is heading higher. Our target is 25,600, and it will eventually hit a record high. I would not be surprised if Nifty 50 hits a record high this (calendar) year itself."Gautam Shah, Founder, Goldilocks Global Research
As of May 27, liquidity in the banking system is in surplus of Rs 1.9 lakh crore, as per Reserve Bank of India data. It's in sharp contrast to Rs 3.3 lakh crore deficit recorded in Jan 23.
The central bank has been using various tools like Open Market Operations, currency buy-sell swap since late December 2024 to improve liquidity in the system. Another measure has been reduction in repo rate by 50 basis points to 6%.
Foreign institutional investors have taken out Rs 87,687 crore from Indian financial markets in 2025 so far, according to data on National Securities Depository Ltd.
Goldilocks Global Research Founder Gautam Shah was talking to NDTV Profit Executive Editor Niraj Shah at Talking Point Wednesday.
However, in percentage terms, the Nifty is not going to do anything special even if it hits a record high. It'll be a 5–7% rise. At best, the Nifty 50 will deliver a 10% gain. Real returns will come from mid-cap and small-cap stocks, according to Shah.
The momentum will come from financial services. This sector is the way forward. Goldilocks Global Research is seeing 60,000 for the Nifty Bank index. Alpha will get generated in top non-banking financial companies and banks, he said.
Metals and real-estate will do well too in next six months. For the Nifty Metal, Goldilocks Global Research is expecting 15% rise from current levels, and Nifty Realty will rise 15–20%, Shah said.
Consumption remains an underperforming sector. It will take a couple of quarters to see any momentum in the space, he added.
