MUMBAI (Reuters) - Deutsche Bank raised its December
2013 target for the BSE Sensex to a record high at 22,000 points from
21,000, saying investor pessimism earlier this year was receding amid
positive developments such as a good monsoon.
Among other positive factors, Deutsche mentioned a bottoming out in
the economy, the likely withdrawal of liquidity tightening measures by
India's central bank, a synchronized global growth recovery and a
Federal Reserve that has delayed tapering of its monetary stimulus.Deutsche Bank also named banks as its top "overweight" in its model portfolio, citing receding concerns over tight liquidity and higher short-end interest rates. Meanwhile, it cut IT services to "neutral."
The benchmark BSE Sensex fell 0.2 percent, or 42.45 points, to end at 20,725.43 on Thursday. The index's all-time high is 21,206.77, hit in January 2008.
PRINCE BIKRAM SHAH
P.G.D.M-1ST
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