Friday, October 23, 2009

Sensex may reach 19,000 level by March 2010: JP Morgan

~The Bombay Stock Exchange's benchmark index Sensex may reach 18,000-19,000 points level by end-March 2010 led by improved investor confidence, a survey by J P Morgan Asset Management company said.

"Both investors and advisors expect (the) Sensex to reach 18,000-19,000 in March 2010. Ninety-three per cent of advisors and 68 per cent of retail investors expect the Sensex to rise from current levels," J P Morgan said in a report 'Investor Confidence Index'.

J P Morgan said these expectations hinged on prospects of a global economic recovery coupled with a sustained confidence in the Indian economy across the board.

According to the survey, the Investor Confidence Index stood at 146.4 in September 2009, up by 10.5 points from July 2009, the survey said.

The report said about 50 per cent of corporate investors considered GDP growth and the possibility of India exceeding the 7 per cent target for FY 10 as the biggest positive indicator, while retail investors considered the rise in stock markets as the biggest indicator.

It added that advisors, on the other hand, viewed the inflow of foreign money as the most positive indicator.

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