Sensex may touch 70,000 mark by Dec 2022: Morgan Stanley

In its note, an analyst said the Sensex would hit the 70,000 mark by 2022 end up to around 17 percent from the current levels.

migrator

Updated:22nd Nov, 2021 at 5:27 AM

New Delhi

Ridham Desai, head, India research and India equity strategist, Morgan Stanley, in a co-authored report with Sheela Rathi and Nayant Parekh, said India’s strong growth and macro stability are driving its re-rating, albeit, for now, we think the outperformance could pause given strong trailing six-month relative performance (over 30ppt) to emerging markets.

Relative valuations are at the high end of the historical range, and there appears to be exuberance among small- and mid-cap stocks.

Earlier some days back, the investment firm had downgraded India to equal-weight in their global emerging markets (GEMs) country portfolio.

Meanwhile, many other analysts feel the equity markets would watch out for global cues in absence of any major event on the domestic front, and indices may face volatility because of the scheduled derivatives expiry this week.

Sensex may touch 70,000 mark by Dec 2022: Morgan Stanley

In its note, an analyst said the Sensex would hit the 70,000 mark by 2022 end up to around 17 percent from the current levels.

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