A strong mon­soon may lift Sen­sex to 29,000-35,000 points by year end

The Economic Times - - Front Page - Our Bureau

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.

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