Afternoon D & C Dedicated To Mumbai
Home > Business & Investment > 'Outperformance of Indian market to continue; Nifty to touch 12,000 by Dec'

'Outperformance of Indian market to continue; Nifty to touch 12,000 by Dec'

Monday, September 10, 2018

Indian markets have outperformed all other emerging markets so far this year and the trend is expected to continue, with the Nifty likely to touch 12,000 by December this year, a senior official of Edelweiss Investment Research said.

"India is up 12% so far this year while MSCI emerging market index is down 10%, showing clear outperformance," Sandeep Raina, Associate Director, Edelweiss Investment Research told PTI.

"We believe that the outperformance may continue given the fact that earnings of the companies are looking better and there are many companies available at reasonable valuations. We have a December target of 12,000 for Nifty," he added.

The 30-share benchmark index Sensex has surged over 12% so far this year and is currently trading around 38,000 level while the broader Nifty is hovering at 11,500 points.

Asked whether the risk reward for the Indian market has turned negative as it has accrued significant gains, he said the markets are not looking "very expensive".

"With earnings in sight and economic growth picking momentum, markets are not looking very expensive. In this quarter, BSE 500 (companies) have given a PAT growth of 16% (excluding all PSU Banks), which is very strong. Hence, we believe that earnings are coming back significantly," he said.

Investors, however, should participate in those stocks where "the earning visibility is strong, corporate governance is good and cash flows are strong", he added.

Regarding the significant decline in rupee, he said there is a strong relationship between deteriorating external balances and worsening currency performance.

"Therefore rupee will see some pressure if current account deficit and fiscal deficit keeps on deteriorating," he noted.

COMMENTS
No Comments Posted
POST YOUR COMMENTS
Name:  
 
Email:    
Comments:
 
 
City news
FDA files FIRs against 13 accused, online pharmac
74 per cent of women desire to change ...
In statistics compiled and presented by the Mumba
If a man is unable to pull the skin on his penis
Dr. Rajan B. Bhonsle, M.D. (Bom)
Consulting Sex Therapist & Counsellor
Dr. (Mrs.) Minnu R. Bhonsle, Ph.D.
Consulting Psychotherapist & Counsellor
Astrology
Select Sun sign:
 
Aries (Mar 21 - Apr 20)
Aries (Mar 21 - Apr 20)You are likely to remain careful and watchful today, foretells Ganesha. And because you'll be invited to parties and other social events, your enthusiasm will remain buoyant. You will also strike the right balance between business and pleasure, says Ganesha.
- Advertising -
St Xavier’s High School Fort celebrates its sesqu
Sarab Matharu uses vertical farming to fruitfully
Hindustani Classical Music Santoor Legend Pandit
Read More