Sensex at 95,000? Morgan Stanley bets on 22% surge as market ‘bottom’ nears
Morgan Stanley sees Indian equities entering a recovery phase with improving earnings and low valuations, projecting a sharp upside for Sensex over the next two years.
India’s key equity indices – S&P BSE Sensex and NSE Nifty50 – made gains during Monday’s mid-afternoon trade session.
In the process, Nifty50 breached the 18,000 points-mark. It touched a record high of 18,041.95 points during the intraday trade.
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According to senior analysts, positive global cues along with expectations of healthy Q2FY22 results buoyed sentiments.
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In terms of sectors, Media, Realty, PSE, Energy and Auto gained the most.
Consequently, the 30-scrip sensitive index traded at 60,414.28 points around 1.25 p.m., up 355.22 points or 0.59 per cent.
The Sensex opened at 60,099.68 points from its previous close of 60,059.06 points.
Besides, the NSE Nifty50 traded at 18,020.70 points, up by 125.50 points or 0.70 per cent.
It opened at 17,867.55 points from its previous close of 17,895.20 points.
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