A strong monsoon may lift Sensex to 29,000-35,000 points by year end
Mumbai: The Indian weather office’s upbeat monsoon forecast has sparked optimism among market participants. In a poll of leading fund managers, research heads and brokers conducted by ET, most said the Sensex would gain at least 13% by December.
Expectations of further monetary policy easing in the event of strong rain in the June-September season and overseas investors regaining their appetite for emerging markets will help stocks keep the bullish streak going. Reliance Industries, Tata Motors, Infosys and Maruti Suzuki are among the top picks of poll participants.
The Sensex may rise to 29,00035,000 points by year end, said a majority of the 35 people polled by ET. About 26% said the index could hit 30,000-32,000 by December while 22% said the benchmark could even touch 32,000-35,000. About 13% predicted the Sensex at 29,00030,000. The Sensex closed at 25,626.75 on Wednesday in a trading week shortened by holidays.