Morgan Stanley has raised the target of 30-share BSE Sensex to 42,000-mark for September 2019 from 36,000 in June, CNBC TV18 reported. It implies an upside of 11 percent from the earlier base case target. The Sensex has already breached the 36,000-target in July last year. Talking to CNBC TV18, Ridham Desai, Managing Director, Morgan Stanley India said that the Indian equities continue to remain in an uptrend mode and investors should invest in favourite underperformers.
Stocks in focus
SBI, Apollo Hospitals and Prestige Estates are a few of the stocks which have been added to its portfolio by Morgan Stanley India. Powered by company earnings in the quarter ended June and continuous domestic money inflow, Sensex has rallied about 11 percent year-to-date on top of nearly 28 percent rise in 2017.
Sensex, Nifty today
Sensex and Nifty rushed into positive territory on Friday after CPI-based inflation eased to 10-month low and positive global cues with Sensex rallying 341 points and rupee regaining 54 paise vs US dollar. The wider share indicator NSE Nifty 50 also surged heavily in the morning deals and hit a day’s high of 11,485. The Indian rupee on Friday marked considerable recovery against the US dollar and climbed up as much as 54 paise per unit USD to 71.6425 from the Wednesday’s closing of 72.1850, the Bloomberg data showed.