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Rediff.com Business 'Sensex expected to touch 35K by 2016 end'

'Sensex expected to touch 35K by 2016 end'

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Last updated on: November 05, 2015 18:11 IST

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Societe Generale has projected the Nifty to end 2016 at 10,750

he benchmark Sensex would rise to 35,000-level while NSE Nifty would touch 10,750 by
end of 2016 on expected pick up in corporate earnings, Societe Generale has estimated.
In end-December 2015, Nifty would settle at 8,600 and the Sensex at 28,000, a little higher
than their present levels, the European financial services major said.
Benchmark BSE Sensex is currently hovering around 26,000, while NSE Nifty index is at

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8,000 level.
"The impact of Prime Minister Modi's election on share market performance has clearly worn
off," Societe Generale said in a report.
However, the report noted that catalysts for earnings recovery are in place.

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"We expect the combination of monetary policy easing and robust economic growth to
translate into increasing capacity utilisation and hence, higher earnings growth," it said.
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05-Nov-15 7:25 PM

'Sensex expected to touch 35K by 2016 end' - Rediff.com Business

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Accordingly, Societe Generale has projected the Nifty to end 2016 at 10,750 and the Sensex at
35,000 from the expected pick up in corporate earnings.
"The Nifty, booming both before and after the May 2014 general election on expectations of

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reform, is in negative territory for the year to date, although still marginally ahead of other
Asia emerging market indices," it said.
Meanwhile, the report also observed that there could be share price volatility ahead of the key
Bihar state election result due on November 8.

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"The result seems too close to call, but the impact should be both significant and short-lived,"
the report added.
Noting that Indian assets have been resilient amid the emerging market turmoil, Societe
Generale said that the country is one of the few large emerging market economies where

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economic momentum as measured by OECD's leading indicators has actually improved.

Image: A stock trader. Photograph: Reuters
The image is used for representational purpose only
Copyright 2015 PTI. All rights reserved. Republication or redistribution of PTI content, including by framing or similar means,
is expressly prohibited without the prior written consent.

Related News: Societe Generale, NSE Nifty, OECD, BSE, Reuters

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