Nifty to touch 8,650 points

India is a “strong market” for gains and the NSE index Nifty is likely to touch 8,650 points by December due to government’s reform measures and few credible alternatives within the emerging markets, RBS Private Wealth said on Saturday.

In January, RBS had made year-end estimate of 7,700 points for the Nifty, but has revised it upwards citing the prospects which the economy holds for a bull run.

“We expect the investor interest, especially from the foreign institutional investors to continue, and events like the budget will only help. We have a year-end target of 8,650 for the Nifty,” said RBS chief investment officer Rajesh Cheruvu.