Investment banking major Morgan Stanley has revised downwards its India's economic growth forecast for 2012 to 7.4%. The global brokerage firm has also reduced its year-end target for the Bombay Stock Exchange benchmark Sensex by 15% to 18,850.
Morgan Stanley reduced its forecast for India's gross domestic product growth for 2012 to 7.4% from 7.8% amid high inflation and weak global capital markets environment. Its new Sensex target for December 2011 is down 15% to 18,850 points and the December 2012 target is 22,750. "Reflexivity is at workDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
