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Indian Stock Market


Most global brokerages bullish on India

Friday, September 21, 2007

Global brokerages like CLSA and UBS are positive on Asia and India in particular.

According to CLSA the rally is an opportunity to hedge long Asian equity positions.They feel that the effect of Fed's easing is the immediate near-term issue though credit problems will intensify, as US housing market worsens.

CLSA also view this bull run as an opportunity to buy or add to existing gold investments.

They feel that the sentiment is most positive towards China & India and negative on Japan. The reason for this can be seen in Yen which has not yet rallied enough for now to stop capital outflows. They however remain convinced of the long-term bull case on Asia.

UBS also has raised 2007-end Sensex target to 16,300 from 15,000. They have set 2008-end Sensex target of 19,000.

UBS however feels that the domestic drivers override concerns over global credit & mortgage mkts.Strong capex cycle & secular consumption growth remain intact and corrections should be treated as buying opportunities

UBS is overweight on engineering, telecom, cement, auto and technology

Posted by FR at 8:30 PM  

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Investment in equity shares has its own risks. Sincere efforts have been made to present the right investment perspective.The information contained herein is based on analysis and up on sources that we consider reliable. I, however, do not vouch for the accuracy or the completeness thereof. This material is for personal information and I am not responsible for any loss incurred based upon it.& take no responsibility whatsoever for any financial profits or loss which may arise from the recommendations given in this blog.