Bofa Securities Cuts Nifty Target To 17,500 Points On Rupee Depreciation, Slowing Global Growth

American brokerage BofA Securities on Thursday cut its Nifty target by 1,000 points and now expects the 50-share index to trade at 17,500 points by the end of the year.The brokerage blamed “weakening macros” for the revision, including rupee depreciation and also slowing global growth.”We cut Nifty target to 17,500 (versus 18,500) on weakening macro; higher crude, rupee depreciation, global slowdown, China revival,” it said in a note…