Deutsche cuts Sensex target 2000 points; lists 13 stocks to buy

Moneycontrol BureauBrokerage house Deutsche Bank has trimmed its Sensex target to 27,000 from 29,000 earlier, citing global uncertainty in the wake of ‘Brexit.’“As the long and complicated process of political and economic separation of the UK from the EU unfolds, financial market volatility will remain elevated,” says the Deutsche Bank note, adding, “until the dust settles, the risk of markets reacting irrationally will stay elevated.”The brokerage has advised clients to invest in sectors that have the least exposure to global macro. The only exception is pharmaceuticals as a strong dollar will benefit companies having a sizeable exposure to the US market.“Among the domestic sectors, utilities, tractors, oil marketing companies, cement, consumer staples stand out. Among stocks we see Sun Pharma, Lupin, Aurobindo, ITC, Hindustan Unilever, Titan, NTPC, M&M, Hero Motocorp, Shriram Transport, BPCL, HPCL and Ultratech emerging as stocks that appear most insulated in the current environment,” says the Duetsche Bank note