Moneycontrol
Get App
Last Updated : Jan 22, 2017 10:22 AM IST | Source: CNBC-TV18

Bank earnings will send Sensex to 29k levels by Dec: BofAML

Improvements in earnings emerging out of better earnings from banks will trigger Sensex to hit 29,000 level by December, said Indranil Sengupta, Co-head of India Research, BofAML.

Improvements in earnings emerging out of better earnings from banks will trigger Sensex to hit 29,000 levels by December, said Indranil Sengupta, Co-head of India Research, BofAML.

He expects a weak global environment and says that it will put pressure on emerging markets like India. This will adversely affect portfolio flows and rupee may also depreciate to 70 per dollar, said Sengupta.

But, he also believes that the incremental risks will be limited.

Stage is set for the Union Budget and Sengupta says the emphasis will be on rural schemes and recapitalisation amount may be increased to PSU banks in the Budget.

According to Sengupta, the fiscal deficit to gross domestic product (GDP) will be 3.5 percent and expects the Reserve Bank of India (RBI) to make a dividend payout of Rs 50,000 crore against the demonetised notes not returned. 

Watch video for more...




Subscribe to Moneycontrol Pro and gain access to curated markets data, exclusive trading recommendations, independent equity analysis, actionable investment ideas, nuanced takes on macro, corporate and policy actions, practical insights from market gurus and much more.
First Published on Jan 20, 2017 02:50 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant