Bullish on market, see Sensex at 32000 by December 2016: Citi

Aditya Narain, Citi believes the market needs earnings support and direction to gain some legs. According to him, earnings beats could well surprise more than earnings misses.

January 13, 2016 / 09:42 IST

Aditya Narain, Citi says he remains positive on the market with a 32,000 Sensex target for December 2016.

He believes the market needs earnings support and direction to gain some legs.

"It need not be the 20-18 percent FY17-18 earnings we forecast - a 15 percent should be good enough," he says, adding, that the market is presuming downgrades and a modest quarter lends a cushion.

According to him, earnings beats could well surprise more than earnings misses.

first published: Jan 13, 2016 09:42 am

Discover 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!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347