Wednesday, May 30, 2018

Bank of America ML lowers Sensex target

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Bank of America-Merrill Lynch  has become cautious on the domestic market and lowered the December target for Sensex to 32,000. The Sensex closes at 34949 on May 29. 

FII investments in Indian equities has come down steadily over the past six years from Rs 1.28 lakh crore in 2012, Rs 1.13 lakh crore in 2013 to Rs 97,069 crore in 2014, Rs 17,806 crore in 2015, Rs 20,566 crore in 2016 and Rs 49,729 crore in 2017. 

Portfolio investors have turned extremely cautious on Indian equities, as reflected by their net seller status in 35 out of 42 trading sessions till May 29.

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