MUMBAI Macquarie and UBS raised their targets for the Nifty after the Bharatiya Janata Party and its allies were en route to win a resounding victory in the general election.
UBS raised its 2014 target for the Nifty to 8,000 points from 6,900, while Macquarie raised its 12-month target for the Indian index to 8,400 points from 7,200.
Earlier, Deutsche Bank raised its December 2014 target for the BSE Sensex.
(Reporting by Abhishek Vishnoi and Indulal PM; Editing by Rafael Nam)
Trending On Reuters
With the crucial GDP data scheduled to be announced along with key corporate results, volatility is expected to prevail in the upcoming week. Disappointment on these fronts may push the Nifty down to the 7,200-7,500 range. Once we witness stability and consolidation, investors should increase their exposure, says Ambareesh Baliga. Full article