HSBC : Sensex target at 26,000 |
Global factors that are likely to affect Indian equity markets include -- Chinese equities and the fact that BoJ may be nearing the limits of monetary policy.Global brokerage major HSBC has upgraded Indian equity markets to “neutral”, saying “green shoots” are emerging and has increased its Sensex target for the year to 26,000 from 25,000. Indian equity market has underperformed and its premium to the rest of the region is shrinking. Moreover, macroeconomic data like PMI and auto sales suggest the earnings environment might improve.Investors have been hoping for a cyclical recovery since the summer of 2014 when Prime Minister Narendra Modi came to power, which has so far remained elusive. But things are starting to improve, the report said.
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