Deutsche Bank raises Dec 2014 target for Sensex to 28,000 points
MUMBAI (Reuters) - Deutsche Bank raised its December 2014 target for the BSE Sensex to 28,000 points, saying shares were about to enter "a structural bull market" after the Bharatiya Janata Party and its allies resoundingly won the country's elections.
Deutsche said investors should focus on domestic cyclical shares, as well as sectors that could benefit from BJP's efforts to revive the economy, including banks, oil and gas, industrials and infrastructure.
The investment bank called BJP's victory a "historic verdict" that would justify "a re-rating of the Indian equity markets" and said shares were "at the cusp of a structural bull market."
The Deutsche target would imply a 10.3 percent upside from the record high of 25,375.63 points hit on Friday.
(Reporting by Rafael Nam; Editing by Anand Basu)
- Tweet this
- Share this
- Digg this
- UPDATE 9-Total CEO de Margerie killed in Moscow as jet hits snow plough
- Indiana police charge suspect who may have killed for decades
- Total CEO de Margerie killed in Moscow business jet accident
- China's growth slowest since global crisis, annual target at risk
- Oil falls below $86 as oversupply, global economy worries weigh
India's second-biggest private sector lender by assets on Tuesday reported a 20 percent rise in quarterly net profit, lagging estimates, due to higher tax expenses and provisioning for loan losses. Full Article | Quote
Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman. Full Article